Brokerages Set Kellanova (NYSE:K) PT at $77.96

Kellanova (NYSE:K) has earned a consensus rating of “Hold” from the fourteen brokerages that are currently covering the firm, MarketBeat.com reports. Twelve research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $77.96.

Several brokerages recently issued reports on K. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target for the company in a research note on Tuesday, February 18th. StockNews.com began coverage on Kellanova in a research note on Wednesday, March 12th. They issued a “hold” rating for the company.

Kellanova Price Performance

Kellanova stock opened at $82.22 on Friday. Kellanova has a 12 month low of $52.53 and a 12 month high of $83.22. The stock’s 50 day moving average is $82.05 and its 200-day moving average is $81.19. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $28.38 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last posted its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Equities research analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova’s dividend payout ratio (DPR) is presently 58.91%.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the completion of the transaction, the insider now directly owns 48,878,693 shares in the company, valued at approximately $3,941,577,803.52. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 1,260,413 shares of company stock worth $103,099,492. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Siemens Fonds Invest GmbH increased its holdings in Kellanova by 257.5% in the fourth quarter. Siemens Fonds Invest GmbH now owns 33,532 shares of the company’s stock valued at $2,715,000 after purchasing an additional 24,153 shares during the period. Menard Financial Group LLC acquired a new stake in Kellanova in the fourth quarter valued at $73,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Kellanova in the fourth quarter valued at $15,138,000. Mackenzie Financial Corp increased its holdings in Kellanova by 8.1% in the fourth quarter. Mackenzie Financial Corp now owns 23,343 shares of the company’s stock valued at $1,890,000 after purchasing an additional 1,755 shares during the period. Finally, BCK Capital Management LP increased its holdings in Kellanova by 101.6% in the fourth quarter. BCK Capital Management LP now owns 168,610 shares of the company’s stock valued at $13,652,000 after purchasing an additional 84,970 shares during the period. 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.