Kellanova (NYSE:K) Receives $74.32 Average PT from Brokerages

Kellanova (NYSE:K) has earned a consensus rating of “Hold” from the fifteen ratings firms that are covering the stock, Marketbeat Ratings reports. Thirteen analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $74.32.

A number of research analysts have recently issued reports on the company. Bank of America raised Kellanova from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $62.00 to $70.00 in a research note on Friday, August 2nd. Evercore ISI raised shares of Kellanova to a “hold” rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research report on Thursday, August 15th. Wells Fargo & Company raised their price target on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Finally, BNP Paribas upgraded shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price objective on the stock in a report on Monday, August 5th.

Kellanova Stock Performance

Shares of K stock opened at $80.67 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. Kellanova has a one year low of $47.63 and a one year high of $80.97. The business’s 50 day simple moving average is $73.35 and its 200 day simple moving average is $63.44. The stock has a market capitalization of $27.58 billion, a PE ratio of 30.21, a PEG ratio of 2.57 and a beta of 0.39.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period in the prior year, the firm posted $1.25 EPS. The company’s quarterly revenue was down 4.7% on a year-over-year basis. As a group, research analysts forecast that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. This is an increase from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date was Tuesday, September 3rd. Kellanova’s dividend payout ratio is presently 85.39%.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $56.14, for a total transaction of $4,367,692.00. Following the completion of the sale, the insider now owns 51,142,038 shares in the company, valued at approximately $2,871,114,013.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $56.14, for a total transaction of $4,367,692.00. Following the sale, the insider now owns 51,142,038 shares in the company, valued at $2,871,114,013.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the completion of the sale, the insider now directly owns 50,368,272 shares in the company, valued at $4,062,201,136.80. The disclosure for this sale can be found here. Insiders have sold 1,043,949 shares of company stock worth $74,350,847 in the last 90 days. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of K. Intech Investment Management LLC increased its stake in Kellanova by 10.1% in the fourth quarter. Intech Investment Management LLC now owns 263,880 shares of the company’s stock valued at $14,754,000 after acquiring an additional 24,124 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Kellanova by 4.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock valued at $14,705,000 after buying an additional 10,676 shares in the last quarter. SG Americas Securities LLC lifted its position in Kellanova by 498.7% in the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock worth $15,049,000 after buying an additional 217,320 shares during the last quarter. Banque Cantonale Vaudoise boosted its stake in Kellanova by 35.5% in the first quarter. Banque Cantonale Vaudoise now owns 79,701 shares of the company’s stock worth $4,566,000 after buying an additional 20,866 shares in the last quarter. Finally, M&G Plc purchased a new position in shares of Kellanova during the first quarter worth approximately $9,346,000. 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.