Investment Analysts’ Weekly Ratings Updates for Kellanova (K)

Kellanova (NYSE: K) has recently received a number of price target changes and ratings updates:

• 10/3/2024 – Kellanova is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 10/2/2024 – Kellanova was downgraded by analysts at Argus from a “buy” rating to a “hold” rating.
• 9/25/2024 – Kellanova is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 9/17/2024 – Kellanova is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 9/9/2024 – Kellanova is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 9/1/2024 – Kellanova is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 8/26/2024 – Kellanova was downgraded by analysts at DA Davidson from a “buy” rating to a “neutral” rating. They now have a $83.50 price target on the stock, up previously from $80.00.
• 8/24/2024 – Kellanova is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 8/15/2024 – Kellanova was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating. They now have a $83.50 price target on the stock, up previously from $76.00.
• 8/15/2024 – Kellanova had its price target raised by analysts at Piper Sandler from $63.00 to $83.50. They now have a “neutral” rating on the stock.
• 8/15/2024 – Kellanova had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $76.00 to $83.50. They now have a “hold” rating on the stock.
• 8/15/2024 – Kellanova had its price target raised by analysts at Wells Fargo & Company from $76.00 to $83.50. They now have an “equal weight” rating on the stock.
• 8/15/2024 – Kellanova had its price target raised by analysts at Barclays PLC from $67.00 to $83.00. They now have an “equal weight” rating on the stock.
• 8/12/2024 – Kellanova is now covered by analysts at The Goldman Sachs Group, Inc.. They set a “neutral” rating and a $75.00 price target on the stock.
• 8/12/2024 – Kellanova had its price target raised by analysts at Stifel Nicolaus from $64.00 to $76.00. They now have a “hold” rating on the stock.
• 8/6/2024 – Kellanova had its price target raised by analysts at Wells Fargo & Company from $62.00 to $76.00. They now have an “equal weight” rating on the stock.
• 8/5/2024 – Kellanova was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating. They now have a $76.00 price target on the stock, up previously from $62.00.
• 8/5/2024 – Kellanova was upgraded by analysts at BNP Paribas from a “neutral” rating to an “outperform” rating. They now have a $74.00 price target on the stock.
• 8/5/2024 – Kellanova had its price target raised by analysts at Barclays PLC from $61.00 to $67.00. They now have an “equal weight” rating on the stock.
• 8/5/2024 – Kellanova had its price target raised by analysts at DA Davidson from $69.00 to $73.00. They now have a “buy” rating on the stock.

Kellanova Stock Performance

Kellanova stock traded up $0.04 during mid-day trading on Thursday, reaching $80.63. The company’s stock had a trading volume of 1,788,407 shares, compared to its average volume of 3,225,068. The company has a market capitalization of $27.57 billion, a P/E ratio of 30.20, a PEG ratio of 2.59 and a beta of 0.39. The firm’s fifty day moving average price is $76.09 and its two-hundred day moving average price is $64.57. Kellanova has a 12-month low of $47.63 and a 12-month high of $81.00. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.25 earnings per share. Sell-side analysts predict that Kellanova will post 3.7 EPS 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 paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date was Tuesday, September 3rd. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s dividend payout ratio is 85.39%.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was 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 owns 51,142,038 shares of the company’s stock, valued at approximately $2,871,114,013.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Monday, July 8th. The stock was sold at an average price of $56.14, for a total value of $4,367,692.00. Following the completion of the sale, the insider now owns 51,142,038 shares of the company’s stock, valued at approximately $2,871,114,013.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated 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 sale, the insider now directly 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. Over the last 90 days, insiders have sold 1,080,732 shares of company stock worth $79,115,595. Insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

Institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. boosted its stake in Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after acquiring an additional 170 shares in the last quarter. Family Firm Inc. acquired a new stake in Kellanova in the 2nd quarter worth approximately $29,000. BNP Paribas purchased a new stake in Kellanova during the 1st quarter worth approximately $30,000. Newbridge Financial Services Group Inc. raised its holdings in shares of Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after buying an additional 200 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of Kellanova during the second quarter worth $39,000. 83.87% of the stock is currently owned by institutional investors.

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.