Kellanova (NYSE:K) Reaches New 1-Year High – Here’s Why

Kellanova (NYSE:K)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $81.35 and last traded at $81.31, with a volume of 1196101 shares traded. The stock had previously closed at $81.22.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on K shares. Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. StockNews.com initiated coverage on shares of Kellanova in a research note on Tuesday. They set a “hold” rating on the stock. Finally, BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Friday, November 1st. Fifteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $76.35.

Kellanova Trading Up 0.1 %

The firm has a fifty day moving average of $80.82 and a 200-day moving average of $75.17. The stock has a market capitalization of $28.04 billion, a price-to-earnings ratio of 27.95, a P/E/G ratio of 2.59 and a beta of 0.37. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77.

Kellanova (NYSE:K) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. Kellanova’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the company earned $1.03 earnings per share. As a group, equities analysts predict that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were paid a $0.57 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.80%. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.96, for a total transaction of $9,276,639.68. Following the transaction, the insider now directly owns 49,795,357 shares in the company, valued at $4,031,432,102.72. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 916,664 shares of company stock valued at $74,105,409 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CVA Family Office LLC increased its stake in shares of Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after purchasing an additional 307 shares during the period. Newbridge Financial Services Group Inc. boosted its stake in Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after purchasing an additional 200 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 worth $34,000 after acquiring an additional 137 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in Kellanova by 41.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after acquiring an additional 158 shares during the last quarter. Finally, Mather Group LLC. boosted its position in shares of Kellanova by 71.3% during the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock valued at $50,000 after purchasing an additional 256 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

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.