Kellanova (NYSE:K) Receives Consensus Rating of “Hold” from Brokerages

Shares of Kellanova (NYSE:K) have been given an average rating of “Hold” by the fifteen analysts that are presently covering the firm, Marketbeat.com reports. Fourteen research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $76.35.

K has been the subject of several recent analyst reports. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a report on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. The Goldman Sachs Group initiated coverage on Kellanova in a report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective for the company. DA Davidson lowered Kellanova from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $80.00 to $83.50 in a report on Monday, August 26th. Finally, Stifel Nicolaus boosted their price objective on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, August 12th.

Kellanova Stock Up 0.2 %

K stock opened at $81.18 on Friday. 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 $27.98 billion, a PE ratio of 27.89, a PEG ratio of 2.60 and a beta of 0.39. Kellanova has a twelve month low of $51.02 and a twelve month high of $81.34. The stock has a 50-day simple moving average of $80.67 and a two-hundred day simple moving average of $69.50.

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

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.81%. Kellanova’s payout ratio is currently 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 that occurred on Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total value of $6,272,236.00. Following the completion of the sale, the insider now owns 50,597,438 shares in the company, valued at approximately $4,079,165,451.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the completion of the transaction, the insider now owns 50,597,438 shares in the company, valued at $4,079,165,451.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 50,368,272 shares of the company’s stock, valued at approximately $4,062,201,136.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,072,264 shares of company stock worth $86,452,375. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kellanova

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in shares of Kellanova by 11.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock valued at $150,909,000 after acquiring an additional 277,171 shares in the last quarter. Yacktman Asset Management LP raised its holdings in shares of Kellanova by 0.5% during the second quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock valued at $123,546,000 after acquiring an additional 10,510 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of Kellanova by 766.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock valued at $108,532,000 after acquiring an additional 1,664,461 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Kellanova by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,630,609 shares of the company’s stock valued at $131,606,000 after acquiring an additional 35,268 shares in the last quarter. Finally, Maverick Capital Ltd. purchased a new stake in Kellanova in the second quarter worth $88,065,000. Institutional investors 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.