Kellanova (NYSE:K) Reaches New 52-Week High at $81.00

Kellanova (NYSE:K) shares hit a new 52-week high on Monday . The company traded as high as $81.00 and last traded at $80.90, with a volume of 40829 shares changing hands. The stock had previously closed at $80.78.

Analyst Ratings Changes

A number of research firms recently issued reports on K. Piper Sandler boosted their target price on shares of Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research report on Thursday, August 15th. The Goldman Sachs Group began coverage on shares of Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 target price for the company. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. Wells Fargo & Company upped their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Finally, Barclays upped their price objective on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Fourteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Kellanova has a consensus rating of “Hold” and a consensus target price of $74.32.

Kellanova Stock Down 0.0 %

The firm has a market cap of $27.61 billion, a PE ratio of 30.28, a PEG 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. The business’s 50 day moving average price is $74.69 and its 200 day moving average price is $64.00.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. The company 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%. Kellanova’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.25 EPS. On average, equities research analysts expect that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.82%. This is an increase from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s dividend payout ratio (DPR) is currently 85.39%.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $56.19, for a total transaction of $4,371,582.00. Following the completion of the sale, the insider now owns 51,064,238 shares in the company, valued at approximately $2,869,299,533.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $56.19, for a total value of $4,371,582.00. Following the completion of the sale, the insider now owns 51,064,238 shares in the company, valued at approximately $2,869,299,533.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the completion of the sale, the insider now owns 50,368,272 shares of the company’s stock, valued at approximately $4,062,201,136.80. The disclosure for this sale can be found here. Insiders sold 966,149 shares of company stock worth $69,866,455 in the last 90 days. Insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

Several institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its position in Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after buying an additional 170 shares during the period. Family Firm Inc. purchased a new position in Kellanova in the 2nd quarter valued at approximately $29,000. BNP Paribas purchased a new position in Kellanova in the 1st quarter valued at approximately $30,000. Newbridge Financial Services Group Inc. boosted its position in Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after buying an additional 200 shares during the period. Finally, Ridgewood Investments LLC purchased a new position in Kellanova in the 2nd quarter valued at approximately $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.