Kellanova (NYSE:K) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Kellanova (NYSE:K) in a research note published on Monday morning. The firm issued a hold rating on the stock.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. boosted their price target on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Stifel Nicolaus boosted their target price on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft upped their target price on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research report on Thursday, August 15th. DA Davidson lowered Kellanova from a “buy” rating to a “neutral” rating and lifted their price target for the company from $80.00 to $83.50 in a report on Monday, August 26th. Finally, BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a report on Friday, November 1st. Sixteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $74.96.

Kellanova Trading Down 0.4 %

Shares of K opened at $80.65 on Monday. The business’s 50-day moving average price is $80.64 and its 200 day moving average price is $68.87. The stock has a market capitalization of $27.80 billion, a P/E ratio of 27.72, a P/E/G ratio of 2.59 and a beta of 0.39. Kellanova has a 1-year low of $51.02 and a 1-year high of $81.26. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 EPS. Analysts expect that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s payout ratio is presently 78.35%.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $80.76, for a total value of $9,253,723.08. Following the completion of the transaction, the insider now directly owns 49,680,774 shares of the company’s stock, valued at $4,012,219,308.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $80.76, for a total value of $9,253,723.08. Following the completion of the transaction, the insider now owns 49,680,774 shares of the company’s stock, valued at $4,012,219,308.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total value of $6,227,890.00. Following the sale, the insider now directly owns 50,753,038 shares in the company, valued at $4,062,780,691.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,150,064 shares of company stock valued at $92,680,265 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Several institutional investors have recently added to or reduced their stakes in the company. Swedbank AB boosted its stake in Kellanova by 20.5% in the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after purchasing an additional 46,450 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Kellanova by 4.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock worth $14,705,000 after acquiring an additional 10,676 shares during the last quarter. SG Americas Securities LLC increased its position in Kellanova by 498.7% in the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock valued at $15,049,000 after acquiring an additional 217,320 shares in the last quarter. M&G Plc acquired a new stake in Kellanova in the 1st quarter valued at about $9,346,000. Finally, Atria Investments Inc bought a new position in shares of Kellanova in the first quarter worth about $1,003,000. 83.87% of the stock is owned by institutional investors.

Kellanova Company Profile

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia, and Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.