Kellanova (NYSE:K) Coverage Initiated by Analysts at StockNews.com

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

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

Kellanova Stock Down 0.4 %

K stock opened at $80.82 on Monday. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $81.34. The company has a market capitalization of $27.86 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 2.59 and a beta of 0.38. The business’s 50 day moving average price is $80.80 and its two-hundred day moving average price is $74.37. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77.

Kellanova (NYSE:K) last announced its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 EPS. As a group, analysts forecast that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

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

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $80.63, for a total transaction of $9,238,827.29. Following the sale, the insider now owns 49,909,940 shares in the company, valued at $4,024,238,462.20. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 1,031,247 shares of company stock worth $83,337,362 in the last three months. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Several institutional investors have recently added to or reduced their stakes in K. Principal Financial Group Inc. grew its stake in shares of Kellanova by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after buying an additional 24,067 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Kellanova by 0.6% in the 3rd quarter. Retirement Systems of Alabama now owns 58,422 shares of the company’s stock valued at $4,715,000 after acquiring an additional 351 shares during the last quarter. Peapack Gladstone Financial Corp grew its position in Kellanova by 0.6% in the third quarter. Peapack Gladstone Financial Corp now owns 81,629 shares of the company’s stock worth $6,587,000 after acquiring an additional 507 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Kellanova during the third quarter worth approximately $210,000. Finally, Sanctuary Advisors LLC lifted its stake in shares of Kellanova by 1.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock valued at $690,000 after purchasing an additional 145 shares during the last quarter. Hedge funds and other 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.