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

StockNews.com started coverage on shares of Kellanova (NYSE:K) in a research note issued to investors on Monday morning. The brokerage issued a hold rating on the stock.

A number of other analysts also recently issued reports on K. BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a research report on Friday, November 1st. Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $76.35.

Kellanova Stock Performance

NYSE:K opened at $80.97 on Monday. The company has a market cap of $27.91 billion, a P/E ratio of 27.82, a P/E/G ratio of 2.59 and a beta of 0.38. The firm’s 50 day moving average is $80.80 and its two-hundred day moving average is $74.69. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $81.34. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last issued its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the company posted $1.03 EPS. The business’s quarterly revenue was down .7% on a year-over-year basis. Analysts expect that Kellanova will post 3.74 EPS for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s dividend payout ratio is currently 78.35%.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $80.63, for a total value of $9,238,827.29. Following the completion of the sale, the insider now directly owns 49,909,940 shares of the company’s stock, valued at $4,024,238,462.20. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 1,031,247 shares of company stock worth $83,337,362 in the last 90 days. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in Kellanova during the second quarter worth $63,000. Concurrent Investment Advisors LLC acquired a new stake in shares of Kellanova during the second quarter worth $353,000. Farther Finance Advisors LLC lifted its position in shares of Kellanova by 157.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 10,912 shares of the company’s stock worth $619,000 after buying an additional 6,670 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Kellanova by 12.7% in the 2nd quarter. Natixis Advisors LLC now owns 74,046 shares of the company’s stock valued at $4,271,000 after buying an additional 8,373 shares during the period. Finally, Eukles Asset Management grew its position in shares of Kellanova by 0.7% during the 2nd quarter. Eukles Asset Management now owns 26,378 shares of the company’s stock valued at $1,521,000 after buying an additional 193 shares during the last quarter. Institutional investors and hedge funds 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.