Kellanova (NYSE:K) Price Target Raised to $64.00 at Barclays

Kellanova (NYSE:K) had its target price increased by Barclays from $60.00 to $64.00 in a report published on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts have also recently weighed in on K. TD Cowen boosted their target price on Kellanova from $57.00 to $62.00 and gave the stock a hold rating in a report on Friday, May 3rd. DA Davidson assumed coverage on Kellanova in a research note on Friday, March 1st. They set a buy rating and a $67.00 price objective on the stock. Piper Sandler raised their target price on Kellanova from $59.00 to $60.00 and gave the stock a neutral rating in a research note on Monday, February 12th. Wells Fargo & Company boosted their price target on shares of Kellanova from $56.00 to $58.00 and gave the company an equal weight rating in a research report on Friday, February 9th. Finally, Stifel Nicolaus upped their price objective on shares of Kellanova from $56.00 to $58.00 and gave the company a hold rating in a report on Thursday, January 25th. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Kellanova currently has an average rating of Hold and an average target price of $61.46.

Kellanova Trading Up 1.1 %

Shares of K stock opened at $62.33 on Monday. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $71.53. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62. The stock’s fifty day moving average is $56.42 and its two-hundred day moving average is $54.80. The firm has a market capitalization of $21.31 billion, a P/E ratio of 23.34, a PEG ratio of 2.32 and a beta of 0.39.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period last year, the firm posted $1.10 earnings per share. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. Research analysts expect that Kellanova will post 3.58 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be given a dividend of $0.56 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.59%. Kellanova’s payout ratio is currently 83.90%.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $53.62, for a total transaction of $4,171,636.00. Following the completion of the transaction, the insider now directly owns 52,698,038 shares in the company, valued at $2,825,668,797.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $53.62, for a total transaction of $4,171,636.00. Following the sale, the insider now directly owns 52,698,038 shares in the company, valued at $2,825,668,797.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the transaction, the senior vice president now owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The disclosure for this sale can be found here. Insiders have sold a total of 1,021,200 shares of company stock valued at $57,219,110 over the last quarter. 1.80% of the stock is owned by company insiders.

Institutional Trading of Kellanova

Several hedge funds have recently modified their holdings of K. Louisiana State Employees Retirement System acquired a new stake in Kellanova in the 4th quarter valued at about $889,000. Comerica Bank acquired a new stake in Kellanova in the third quarter valued at approximately $4,974,000. Raymond James & Associates lifted its stake in Kellanova by 11.9% in the fourth quarter. Raymond James & Associates now owns 400,371 shares of the company’s stock worth $22,385,000 after acquiring an additional 42,656 shares during the last quarter. Soltis Investment Advisors LLC grew its holdings in Kellanova by 25.7% during the 3rd quarter. Soltis Investment Advisors LLC now owns 46,127 shares of the company’s stock worth $2,745,000 after acquiring an additional 9,434 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of Kellanova by 29.0% in the 4th quarter. Handelsbanken Fonder AB now owns 180,783 shares of the company’s stock valued at $10,108,000 after purchasing an additional 40,656 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

About Kellanova

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.