Kellanova (NYSE:K) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Kellanova (NYSE:K) in a research report report published on Sunday. The brokerage issued a hold rating on the stock.

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

Kellanova Stock Performance

K opened at $82.18 on Friday. 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 has a 12-month low of $55.01 and a 12-month high of $83.22. The firm has a 50 day moving average of $82.33 and a two-hundred day moving average of $81.47. The firm has a market capitalization of $28.37 billion, a PE ratio of 21.24, a P/E/G ratio of 4.21 and a beta of 0.34.

Kellanova (NYSE:K) last announced its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping 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%. On average, analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

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

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $82.03, for a total value of $9,399,243.49. Following the sale, the insider now owns 47,274,531 shares in the company, valued at approximately $3,877,929,777.93. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 1,260,413 shares of company stock valued at $103,558,970. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

A number of institutional investors and hedge funds have recently bought and sold shares of K. Norges Bank acquired a new position in shares of Kellanova in the 4th quarter valued at about $285,126,000. Franklin Resources Inc. grew its position in Kellanova by 869.5% during the fourth quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company’s stock valued at $208,826,000 after purchasing an additional 2,313,047 shares in the last quarter. FIL Ltd increased its stake in Kellanova by 182.3% in the 4th quarter. FIL Ltd now owns 2,388,000 shares of the company’s stock valued at $193,356,000 after buying an additional 1,542,000 shares during the period. Barclays PLC lifted its position in Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after buying an additional 1,033,383 shares in the last quarter. Finally, Tudor Investment Corp ET AL boosted its stake in shares of Kellanova by 136.0% during the 4th quarter. Tudor Investment Corp ET AL now owns 1,745,788 shares of the company’s stock valued at $141,356,000 after buying an additional 1,006,100 shares during the period. 83.87% of the stock is 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.