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

StockNews.com began coverage on shares of Kellanova (NYSE:K) in a research report released on Sunday morning. The firm issued a hold rating on the stock.

A number of other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted their price target on Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Stifel Nicolaus upped their price objective on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Royal Bank of Canada cut Kellanova from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a report on Thursday, August 15th. Fifteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $74.32.

Kellanova Stock Performance

K opened at $80.56 on Friday. 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 company has a market capitalization of $27.54 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 2.60 and a beta of 0.39. The business has a fifty day simple moving average of $80.62 and a 200 day simple moving average of $67.82. Kellanova has a 1 year low of $49.79 and a 1 year high of $81.26.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.11. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the company earned $1.25 EPS. The business’s revenue was down 4.7% on a year-over-year basis. Research analysts expect that Kellanova will post 3.7 EPS for the current year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is currently 85.39%.

Insider Activity

In other 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 7th. The stock was sold at an average price of $74.01, for a total transaction of $5,757,978.00. Following the transaction, the insider now directly owns 50,830,838 shares of the company’s stock, valued at $3,761,990,320.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the completion of the sale, the insider now directly owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $74.01, for a total value of $5,757,978.00. Following the completion of the sale, the insider now directly owns 50,830,838 shares of the company’s stock, valued at approximately $3,761,990,320.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,227,864 shares of company stock worth $98,438,243 in the last three months. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Cortland Associates Inc. MO bought a new stake in Kellanova during the third quarter worth $215,000. Forum Financial Management LP purchased a new stake in shares of Kellanova during the 3rd quarter valued at $263,000. BSW Wealth Partners bought a new stake in shares of Kellanova during the 3rd quarter worth $267,000. Cigna Investments Inc. New bought a new stake in shares of Kellanova during the 3rd quarter worth $214,000. Finally, Tevis Investment Management purchased a new position in shares of Kellanova in the 3rd quarter worth about $231,000. 83.87% of the stock is owned by institutional investors.

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.