StockNews.com Begins Coverage on Kellanova (NYSE:K)

StockNews.com started coverage on shares of Kellanova (NYSE:K) in a report released on Friday. The firm issued a hold rating on the stock.

Separately, Royal Bank of Canada downgraded shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Fourteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Kellanova currently has an average rating of “Hold” and an average price target of $77.96.

Kellanova Stock Down 0.0 %

NYSE:K opened at $82.43 on Friday. Kellanova has a 1 year low of $55.01 and a 1 year high of $83.22. The stock has a 50-day moving average price of $82.24 and a two-hundred day moving average price of $81.32. The stock has a market cap of $28.45 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 4.21 and a beta of 0.31. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. As a group, equities analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

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

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $81.28, for a total value of $9,313,306.24. Following the transaction, the insider now owns 48,649,527 shares in the company, valued at approximately $3,954,233,554.56. This represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 1,374,996 shares of company stock valued at $112,737,068 over the last three months. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

A number of institutional investors have recently made changes to their positions in the company. Stonebridge Financial Group LLC bought a new stake in shares of Kellanova in the fourth quarter valued at about $27,000. BankPlus Trust Department acquired a new stake in Kellanova in the 4th quarter worth about $28,000. Rialto Wealth Management LLC bought a new stake in Kellanova in the 4th quarter valued at about $32,000. Flagship Wealth Advisors LLC acquired a new position in shares of Kellanova during the 4th quarter worth approximately $32,000. Finally, First Horizon Advisors Inc. raised its position in shares of Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after buying an additional 173 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

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.