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

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

A number of other equities analysts also recently weighed in on K. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. The Goldman Sachs Group assumed coverage on shares of Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Evercore ISI upgraded Kellanova to a “hold” rating in a research note on Friday, August 2nd. Sixteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $74.96.

Kellanova Price Performance

Shares of NYSE:K opened at $80.97 on Monday. The stock’s 50 day moving average is $80.64 and its 200-day moving average is $68.87. Kellanova has a twelve month low of $50.81 and a twelve month high of $81.26. 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 firm has a market capitalization of $27.91 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K) last announced its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. Kellanova’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Sell-side analysts forecast that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

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

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total value of $6,227,890.00. Following the completion of the sale, the insider now directly owns 50,753,038 shares of the company’s stock, valued at $4,062,780,691.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total value of $6,227,890.00. Following the transaction, the insider now directly owns 50,753,038 shares of the company’s stock, valued at $4,062,780,691.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $80.96, for a total value of $9,276,639.68. Following the sale, the insider now directly owns 49,795,357 shares of the company’s stock, valued at approximately $4,031,432,102.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,150,064 shares of company stock worth $92,680,265 over the last ninety days. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of K. Dimensional Fund Advisors LP raised its holdings in Kellanova by 11.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock worth $150,909,000 after purchasing an additional 277,171 shares in the last quarter. Yacktman Asset Management LP raised its stake in Kellanova by 0.5% in the second quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock worth $123,546,000 after buying an additional 10,510 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in Kellanova by 766.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after buying an additional 1,664,461 shares during the period. Maverick Capital Ltd. bought a new stake in Kellanova during the 2nd quarter valued at approximately $88,065,000. Finally, TD Asset Management Inc grew its holdings in shares of Kellanova by 3.0% during the 2nd quarter. TD Asset Management Inc now owns 1,391,196 shares of the company’s stock worth $80,244,000 after acquiring an additional 40,406 shares during the period. 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.