Kellanova (NYSE:K) Receives Consensus Recommendation of “Hold” from Brokerages

Kellanova (NYSE:K) has received an average recommendation of “Hold” from the fifteen analysts that are covering the firm, Marketbeat Ratings reports. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $76.35.

Several equities analysts have commented on K shares. Barclays raised their price objective on Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. raised their target price on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Piper Sandler boosted their price target on Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Argus lowered Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total value of $6,272,236.00. Following the transaction, the insider now owns 50,597,438 shares of the company’s stock, valued at approximately $4,079,165,451.56. This represents a 0.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 1,072,264 shares of company stock valued at $86,452,375 over the last three months. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norden Group LLC purchased a new position in shares of Kellanova in the first quarter worth approximately $395,000. Janney Montgomery Scott LLC boosted its stake in shares of Kellanova by 3.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 42,382 shares of the company’s stock worth $2,428,000 after acquiring an additional 1,504 shares during the last quarter. Duality Advisers LP bought a new stake in shares of Kellanova during the 1st quarter valued at $1,131,000. Empirical Finance LLC increased its stake in shares of Kellanova by 3.8% in the 1st quarter. Empirical Finance LLC now owns 8,829 shares of the company’s stock worth $506,000 after purchasing an additional 322 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Kellanova by 29.9% in the 1st quarter. SG Americas Securities LLC now owns 43,581 shares of the company’s stock worth $2,497,000 after purchasing an additional 10,022 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

Shares of NYSE K opened at $80.58 on Friday. Kellanova has a 1 year low of $51.02 and a 1 year high of $81.34. The stock has a market capitalization of $27.78 billion, a P/E ratio of 27.69, a P/E/G ratio of 2.61 and a beta of 0.39. The company’s 50-day moving average is $80.70 and its 200 day moving average is $69.75. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.03 EPS. On average, sell-side analysts expect that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Announces Dividend

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

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.