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

StockNews.com assumed coverage on shares of Kellanova (NYSE:K) in a research note published on Tuesday morning. The firm issued a hold rating on the stock.

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

Kellanova Stock Up 0.2 %

Shares of NYSE:K opened at $81.53 on Tuesday. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $81.58. The firm’s 50 day moving average price is $80.87 and its 200 day moving average price is $75.54. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock has a market cap of $28.10 billion, a price-to-earnings ratio of 28.02, a price-to-earnings-growth ratio of 2.59 and a beta of 0.37.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 EPS. As a group, equities research analysts predict that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.80%. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.96, for a total value of $9,276,639.68. Following the transaction, the insider now directly owns 49,795,357 shares in the company, valued at approximately $4,031,432,102.72. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 1,031,247 shares of company stock worth $83,418,716 in the last 90 days. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Kellanova

Several hedge funds have recently modified their holdings of the stock. Investors Research Corp boosted its holdings in Kellanova by 1.0% in the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company’s stock valued at $1,049,000 after purchasing an additional 125 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Kellanova by 26.2% in the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after buying an additional 131 shares during the period. MCF Advisors LLC boosted its stake in shares of Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after buying an additional 137 shares in the last quarter. S.A. Mason LLC grew its holdings in Kellanova by 7.6% during the third quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock worth $160,000 after acquiring an additional 140 shares during the period. Finally, Sanctuary Advisors LLC raised its position in Kellanova by 1.7% in the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock worth $690,000 after acquiring an additional 145 shares in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

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.