Kellanova (NYSE:K) Price Target Increased to $83.00 by Analysts at Barclays

Kellanova (NYSE:K) had its price target upped by Barclays from $67.00 to $83.00 in a report published on Thursday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other analysts have also recently commented on K. Evercore ISI upgraded shares of Kellanova to a hold rating in a research note on Friday, August 2nd. BNP Paribas raised Kellanova from a neutral rating to an outperform rating and set a $74.00 price target on the stock in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft raised their price objective on Kellanova from $60.00 to $62.00 and gave the company a hold rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on Kellanova from $66.00 to $69.00 and gave the stock a neutral rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus increased their price target on Kellanova from $64.00 to $76.00 and gave the company a hold rating in a research note on Monday. Thirteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Kellanova presently has a consensus rating of Hold and an average price target of $73.57.

Kellanova Trading Up 0.0 %

Shares of K stock traded up $0.01 on Thursday, reaching $80.29. The company had a trading volume of 7,352,336 shares, compared to its average volume of 3,301,998. The stock has a market cap of $27.45 billion, a PE ratio of 30.10, a PEG ratio of 2.22 and a beta of 0.34. The company has a 50-day moving average of $61.01 and a 200-day moving average of $58.54. The company has a current ratio of 0.73, a quick ratio of 0.41 and a debt-to-equity ratio of 1.46. Kellanova has a 12 month low of $47.63 and a 12 month high of $80.46.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.11. The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. Kellanova’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 EPS. On average, equities analysts forecast that Kellanova will post 3.68 earnings per share for the current year.

Kellanova Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd 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 2.84%. This is a boost from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date is Tuesday, September 3rd. Kellanova’s dividend payout ratio is presently 85.39%.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $56.14, for a total value of $4,367,692.00. Following the completion of the sale, the insider now directly owns 51,142,038 shares of the company’s stock, valued at approximately $2,871,114,013.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 855,800 shares of company stock valued at $52,647,260 over the last ninety days. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Kellanova

Hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC increased its position in shares of Kellanova by 133.4% during the fourth quarter. International Assets Investment Management LLC now owns 60,885 shares of the company’s stock valued at $3,404,000 after acquiring an additional 34,800 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in Kellanova by 14.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 7,910 shares of the company’s stock worth $442,000 after buying an additional 1,027 shares in the last quarter. Cerity Partners LLC raised its position in Kellanova by 23.2% in the 4th quarter. Cerity Partners LLC now owns 49,157 shares of the company’s stock worth $2,749,000 after buying an additional 9,258 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Kellanova during the 4th quarter valued at about $889,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Kellanova by 0.8% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 852,927 shares of the company’s stock valued at $47,687,000 after acquiring an additional 6,615 shares during the period. 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.