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

StockNews.com began coverage on shares of Kellanova (NYSE:K) in a research report sent to investors on Saturday morning. The firm issued a hold rating on the stock.

Several other research analysts have also weighed in on K. Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Royal Bank of Canada cut Kellanova from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $76.00 to $83.50 in a research note on Thursday, August 15th. Piper Sandler boosted their price objective on shares of Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their target price on Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Company raised their price target on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Fifteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $74.32.

Kellanova Stock Up 0.2 %

Shares of NYSE:K opened at $81.19 on Friday. The company has a 50 day moving average of $80.31 and a two-hundred day moving average of $66.82. Kellanova has a 52-week low of $49.28 and a 52-week high of $81.26. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $27.76 billion, a price-to-earnings ratio of 30.41, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the business posted $1.25 earnings per share. Kellanova’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, analysts forecast that Kellanova will post 3.7 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.81%. This is an increase from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date was Tuesday, September 3rd. Kellanova’s payout ratio is 85.39%.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $74.01, for a total transaction of $5,757,978.00. Following the completion of the transaction, the insider now owns 50,830,838 shares of the company’s stock, valued at $3,761,990,320.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $74.01, for a total transaction of $5,757,978.00. Following the completion of the sale, the insider now owns 50,830,838 shares in the company, valued at approximately $3,761,990,320.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, September 16th. The stock was sold at an average price of $80.65, for a total value of $9,241,118.95. Following the completion of the transaction, the insider now owns 50,368,272 shares in the company, valued at $4,062,201,136.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,191,081 shares of company stock worth $93,637,014 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in K. Blue Trust Inc. boosted its position in shares of Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after buying an additional 170 shares during the period. Family Firm Inc. acquired a new stake in shares of Kellanova during the 2nd quarter valued at $29,000. CVA Family Office LLC grew its holdings in shares of Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after acquiring an additional 307 shares in the last quarter. BNP Paribas purchased a new stake in shares of Kellanova during the first quarter worth $30,000. Finally, Newbridge Financial Services Group Inc. boosted its position in Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

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.