Kellanova (NYSE:K) Receives Average Rating of “Hold” from Analysts

Kellanova (NYSE:K) has earned an average rating of “Hold” from the fourteen ratings firms that are presently covering the stock, MarketBeat.com reports. Thirteen analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $79.75.

A number of equities research analysts have issued reports on the stock. Citigroup raised shares of Kellanova to a “neutral” rating and set a $83.50 target price for the company in a research note on Thursday, May 29th. Wall Street Zen downgraded Kellanova from a “buy” rating to a “hold” rating in a report on Friday, May 2nd.

Kellanova Price Performance

K opened at $79.75 on Thursday. The firm has a market capitalization of $27.67 billion, a P/E ratio of 20.14, a PEG ratio of 4.22 and a beta of 0.28. The stock has a fifty day moving average of $80.81 and a 200-day moving average of $81.68. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.25. Kellanova has a 12-month low of $56.37 and a 12-month high of $83.22.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 34.80% and a net margin of 10.93%. Kellanova’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the company earned $1.01 earnings per share. Equities analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.86%. Kellanova’s dividend payout ratio is currently 57.58%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $79.68, for a total transaction of $9,129,973.44. Following the completion of the sale, the insider directly owned 45,899,535 shares in the company, valued at $3,657,274,948.80. This represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 1,374,996 shares of company stock valued at $111,466,342. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in K. HighTower Advisors LLC raised its position in shares of Kellanova by 112.9% during the fourth quarter. HighTower Advisors LLC now owns 33,946 shares of the company’s stock valued at $2,749,000 after buying an additional 18,001 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Kellanova by 5.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,640 shares of the company’s stock valued at $376,000 after acquiring an additional 225 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of Kellanova by 13.4% during the 4th quarter. Natixis Advisors LLC now owns 61,483 shares of the company’s stock worth $4,978,000 after purchasing an additional 7,273 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Kellanova during the fourth quarter valued at approximately $666,000. Finally, Twin Tree Management LP acquired a new position in shares of Kellanova in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

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.