Kellanova (NYSE:K) Earns Hold Rating from Analysts at StockNews.com

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

K has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft raised their price objective on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Barclays raised their price target on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. The Goldman Sachs Group began coverage on shares of Kellanova in a research note on Monday, August 12th. They issued a “neutral” rating and a $75.00 price objective on the stock. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $76.00 to $83.50 in a research note on Thursday, August 15th. Finally, BNP Paribas upgraded shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 target price on the stock in a report on Monday, August 5th. Fifteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $74.32.

Kellanova Stock Performance

Shares of Kellanova stock opened at $80.94 on Friday. The company’s 50 day moving average price is $80.45 and its two-hundred day moving average price is $66.98. The firm has a market capitalization of $27.67 billion, a P/E ratio of 30.31, a P/E/G ratio of 2.59 and a beta of 0.39. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48. Kellanova has a fifty-two week low of $49.28 and a fifty-two week high of $81.26.

Kellanova (NYSE:K) last posted its earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period last year, the company earned $1.25 earnings per share. On average, equities analysts forecast that Kellanova will post 3.7 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were paid a $0.57 dividend. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.28 annualized dividend and a yield of 2.82%. Kellanova’s dividend payout ratio (DPR) is 85.39%.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $74.01, for a total transaction of $5,757,978.00. Following the sale, the insider now directly owns 50,830,838 shares in the company, valued at $3,761,990,320.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.96, for a total transaction of $9,276,639.68. Following the completion of the transaction, the insider now directly owns 49,795,357 shares of the company’s stock, valued at approximately $4,031,432,102.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $74.01, for a total value of $5,757,978.00. Following the completion of the sale, the insider now owns 50,830,838 shares in the company, valued at approximately $3,761,990,320.38. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,191,081 shares of company stock valued at $93,637,014. 1.80% of the stock is owned by insiders.

Institutional Trading of Kellanova

Several hedge funds and other institutional investors have recently modified their holdings of the business. NBC Securities Inc. raised its stake in shares of Kellanova by 18.5% during the 1st quarter. NBC Securities Inc. now owns 5,850 shares of the company’s stock valued at $335,000 after purchasing an additional 912 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Kellanova during the first quarter valued at about $2,328,000. Czech National Bank lifted its holdings in shares of Kellanova by 0.5% in the first quarter. Czech National Bank now owns 46,405 shares of the company’s stock worth $2,659,000 after buying an additional 213 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Kellanova in the first quarter valued at approximately $166,000. Finally, AMF Tjanstepension AB bought a new position in shares of Kellanova in the first quarter valued at approximately $16,038,000. Institutional investors 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.