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

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

A number of other research firms also recently commented on K. Piper Sandler increased their target price on Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Wells Fargo & Company lifted their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. Finally, Stifel Nicolaus raised their target price on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Fifteen analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Kellanova presently has a consensus rating of “Hold” and an average target price of $74.32.

Kellanova Stock Up 0.3 %

Shares of NYSE:K opened at $80.83 on Friday. Kellanova has a 12-month low of $50.14 and a 12-month high of $81.26. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46. The firm has a market cap of $27.63 billion, a PE ratio of 30.27, a price-to-earnings-growth ratio of 2.60 and a beta of 0.39. The company has a fifty day simple moving average of $80.63 and a 200 day simple moving average of $68.00.

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

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. Kellanova’s dividend payout ratio (DPR) is presently 85.39%.

Insider Activity

In other Kellanova 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 shares were sold at an average price of $74.01, for a total transaction of $5,757,978.00. Following the transaction, the insider now owns 50,830,838 shares of the company’s stock, valued at approximately $3,761,990,320.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $74.01, for a total value of $5,757,978.00. Following the completion of the sale, the insider now directly owns 50,830,838 shares in the company, valued at $3,761,990,320.38. 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 114,583 shares of Kellanova stock in a transaction on 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 transaction, the insider now owns 49,680,774 shares in the company, valued at approximately $4,012,219,308.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,227,864 shares of company stock valued at $98,438,243. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

Institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. lifted its position in shares of Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after acquiring an additional 170 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of Kellanova during the second quarter worth $29,000. CVA Family Office LLC lifted its holdings in shares of Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after purchasing an additional 307 shares during the last quarter. BNP Paribas acquired a new position in shares of Kellanova in the 1st quarter valued at $30,000. Finally, Newbridge Financial Services Group Inc. increased its stake in Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. 83.87% of the stock is 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.