Kellanova (NYSE:K) Receives $74.32 Consensus PT from Analysts

Kellanova (NYSE:K) has received a consensus rating of “Hold” from the fifteen brokerages that are currently covering the company, MarketBeat Ratings reports. Thirteen research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $74.32.

K has been the subject of several analyst reports. Wells Fargo & Company upped their target price on Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a report on Thursday, August 15th. DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. The Goldman Sachs Group began coverage on shares of Kellanova in a research report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price target for the company. Bank of America raised shares of Kellanova from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $62.00 to $70.00 in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd.

Kellanova Stock Performance

NYSE:K opened at $80.81 on Friday. The company has a 50-day moving average of $72.38 and a 200-day moving average of $63.06. The firm has a market cap of $27.63 billion, a price-to-earnings ratio of 30.27, a price-to-earnings-growth ratio of 2.57 and a beta of 0.39. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46. Kellanova has a twelve month low of $47.63 and a twelve month high of $80.97.

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

Kellanova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.57 per share. This is an increase 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 dividend yield of 2.82%. Kellanova’s payout ratio is presently 85.39%.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $56.14, for a total transaction of $4,367,692.00. Following the completion of the sale, the insider now owns 51,142,038 shares in the company, valued at approximately $2,871,114,013.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $56.14, for a total value of $4,367,692.00. Following the completion of the transaction, the insider now directly owns 51,142,038 shares of the company’s stock, valued at $2,871,114,013.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $80.65, for a total value of $9,241,118.95. Following the completion of the transaction, the insider now owns 50,368,272 shares in the company, valued at $4,062,201,136.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 929,366 shares of company stock valued at $65,106,291. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Kellanova

Hedge funds have recently modified their holdings of the company. Intech Investment Management LLC boosted its stake in shares of Kellanova by 10.1% in the fourth quarter. Intech Investment Management LLC now owns 263,880 shares of the company’s stock valued at $14,754,000 after buying an additional 24,124 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in Kellanova by 4.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock worth $14,705,000 after buying an additional 10,676 shares during the period. SG Americas Securities LLC lifted its holdings in Kellanova by 498.7% in the second quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock valued at $15,049,000 after buying an additional 217,320 shares during the period. Banque Cantonale Vaudoise lifted its holdings in Kellanova by 35.5% in the first quarter. Banque Cantonale Vaudoise now owns 79,701 shares of the company’s stock valued at $4,566,000 after buying an additional 20,866 shares during the period. Finally, M&G Plc bought a new stake in Kellanova during the first quarter valued at $9,346,000. 83.87% of the stock is currently 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.