Kellanova (NYSE:K) Given New $62.00 Price Target at Deutsche Bank Aktiengesellschaft

Kellanova (NYSE:K) had its price objective increased by Deutsche Bank Aktiengesellschaft from $60.00 to $62.00 in a research report released on Friday, Benzinga reports. The brokerage currently has a hold rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Barclays reduced their price target on shares of Kellanova from $64.00 to $61.00 and set an equal weight rating for the company in a report on Friday, July 19th. Bank of America upgraded shares of Kellanova from a neutral rating to a buy rating and increased their price objective for the company from $62.00 to $70.00 in a research note on Friday. JPMorgan Chase & Co. increased their price objective on shares of Kellanova from $59.00 to $66.00 and gave the company a neutral rating in a research note on Friday, May 3rd. DA Davidson increased their price objective on shares of Kellanova from $67.00 to $72.00 and gave the company a buy rating in a research note on Thursday, May 9th. Finally, TD Cowen increased their price objective on shares of Kellanova from $57.00 to $62.00 and gave the company a hold rating in a research note on Friday, May 3rd. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $62.79.

Kellanova Trading Up 1.5 %

NYSE K traded up $0.93 on Friday, hitting $62.98. The company’s stock had a trading volume of 4,730,736 shares, compared to its average volume of 2,053,996. The company has a quick ratio of 0.41, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. Kellanova has a 1-year low of $47.63 and a 1-year high of $67.79. The company’s 50-day moving average is $58.25 and its 200 day moving average is $57.22. The firm has a market cap of $21.53 billion, a PE ratio of 23.59, a PEG ratio of 2.22 and a beta of 0.34.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.11. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the prior year, the company posted $1.25 earnings per share. Kellanova’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, analysts predict that Kellanova will post 3.68 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be given a $0.57 dividend. This is a boost from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.62%. Kellanova’s payout ratio is presently 83.90%.

Insider Activity at Kellanova

In related news, SVP Nicolas Amaya sold 9,800 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the sale, the senior vice president now owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $62.31, for a total transaction of $4,847,718.00. Following the transaction, the insider now owns 51,686,638 shares in the company, valued at $3,220,594,413.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Nicolas Amaya sold 9,800 shares of the 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 transaction, the senior vice president now owns 26,191 shares in the company, valued at approximately $1,572,769.55. The disclosure for this sale can be found here. Insiders have sold 865,600 shares of company stock worth $50,837,176 over the last 90 days. 1.80% of the stock is owned by company insiders.

Institutional Trading of Kellanova

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Kellanova in the fourth quarter worth $150,184,000. Vanguard Group Inc. lifted its position in Kellanova by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock valued at $1,797,525,000 after purchasing an additional 1,130,582 shares during the last quarter. Anchor Capital Advisors LLC bought a new stake in shares of Kellanova in the 4th quarter worth about $38,939,000. Boston Partners lifted its holdings in shares of Kellanova by 117.1% in the 1st quarter. Boston Partners now owns 1,278,079 shares of the company’s stock worth $73,221,000 after acquiring an additional 689,395 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. lifted its holdings in shares of Kellanova by 15.5% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock worth $273,504,000 after acquiring an additional 655,686 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

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.