Kellanova (NYSE:K) Now Covered by StockNews.com

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

A number of other analysts have also commented on K. The Goldman Sachs Group assumed coverage on shares of Kellanova in a report on Monday, August 12th. They set a “neutral” rating and a $75.00 target price for the company. DA Davidson cut Kellanova from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Royal Bank of Canada lowered Kellanova from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $76.00 to $83.50 in a research note on Thursday, August 15th. Wells Fargo & Company raised 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, JPMorgan Chase & Co. upped their price target on Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Sixteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Kellanova currently has a consensus rating of “Hold” and a consensus target price of $74.96.

Kellanova Price Performance

Kellanova stock opened at $80.65 on Monday. The business’s 50-day simple moving average is $80.64 and its 200 day simple moving average is $68.87. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock has a market cap of $27.80 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 2.59 and a beta of 0.39. Kellanova has a 12-month low of $51.02 and a 12-month high of $81.26.

Kellanova (NYSE:K) last issued its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) 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 for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 EPS. As a group, research analysts anticipate that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Dividend Announcement

The business 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 $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $80.32, for a total transaction of $6,248,896.00. Following the completion of the transaction, the insider now owns 50,675,238 shares in the company, valued at approximately $4,070,235,116.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, September 16th. The shares were 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 in the company, valued at $4,062,201,136.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $80.32, for a total transaction of $6,248,896.00. Following the transaction, the insider now owns 50,675,238 shares of the company’s stock, valued at $4,070,235,116.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,150,064 shares of company stock valued at $92,680,265 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swedbank AB grew its holdings in shares of Kellanova by 20.5% in the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock valued at $22,076,000 after acquiring an additional 46,450 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Kellanova by 4.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock worth $14,705,000 after acquiring an additional 10,676 shares in the last quarter. SG Americas Securities LLC boosted its position in Kellanova by 498.7% during the second quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock valued at $15,049,000 after purchasing an additional 217,320 shares during the last quarter. M&G Plc bought a new position in Kellanova in the first quarter valued at approximately $9,346,000. Finally, Atria Investments Inc acquired a new position in shares of Kellanova during the 1st quarter worth approximately $1,003,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

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.