Kellanova (NYSE:K) Receives $76.35 Average PT from Analysts

Shares of Kellanova (NYSE:K) have been assigned a consensus rating of “Hold” from the fifteen research firms that are currently covering the stock, Marketbeat.com reports. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $76.35.

Several brokerages have issued reports on K. DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Royal Bank of Canada cut Kellanova from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. Stifel Nicolaus upped their price objective on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a report on Monday, August 12th. Wells Fargo & Company lifted their target price on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Finally, Barclays boosted their target price on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $80.65, for a total value of $9,241,118.95. Following the sale, the insider now directly owns 50,368,272 shares of the company’s stock, valued at $4,062,201,136.80. 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 through this link. Insiders have sold 1,145,830 shares of company stock valued at $92,516,606 over the last three months. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Investors Research Corp lifted its stake in shares of Kellanova by 1.0% in the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company’s stock valued at $1,049,000 after acquiring an additional 125 shares during the last quarter. Assetmark Inc. increased its holdings in Kellanova by 26.2% in the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after purchasing an additional 131 shares in the last quarter. MCF Advisors LLC raised its position in Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after purchasing an additional 137 shares during the last quarter. S.A. Mason LLC boosted its stake in shares of Kellanova by 7.6% during the third quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock valued at $160,000 after purchasing an additional 140 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in shares of Kellanova by 1.7% during the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock worth $690,000 after purchasing an additional 145 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Kellanova Trading Down 0.0 %

Shares of Kellanova stock opened at $80.74 on Wednesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The business has a fifty day simple moving average of $80.82 and a two-hundred day simple moving average of $71.84. Kellanova has a 1 year low of $52.46 and a 1 year high of $81.34. The company has a market capitalization of $27.83 billion, a price-to-earnings ratio of 27.75, a P/E/G ratio of 2.59 and a beta of 0.38.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share 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 analyst estimates of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 earnings per share. Research analysts forecast that Kellanova will post 3.74 EPS for the current year.

Kellanova Announces Dividend

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

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.