Kellanova (NYSE:K) Sets New 52-Week High – What’s Next?

Kellanova (NYSE:K)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $83.22 and last traded at $82.62, with a volume of 492982 shares trading hands. The stock had previously closed at $82.61.

Wall Street Analyst Weigh In

A number of analysts have issued reports on K shares. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price for the company in a research report on Tuesday, February 18th. StockNews.com initiated coverage on Kellanova in a research report on Tuesday. They set a “hold” rating for the company. Thirteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $77.96.

Kellanova Stock Performance

The firm’s 50-day moving average price is $81.87 and its two-hundred day moving average price is $81.10. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The stock has a market cap of $28.46 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 4.21 and a beta of 0.37.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. On average, analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Monday, March 3rd. Kellanova’s payout ratio is 58.91%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $82.70, for a total transaction of $9,476,014.10. Following the completion of the sale, the insider now directly owns 47,847,446 shares in the company, valued at $3,956,983,784.20. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 1,145,830 shares of company stock valued at $93,461,916 in the last ninety days. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kellanova

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Kellanova by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company’s stock valued at $2,626,322,000 after purchasing an additional 281,137 shares during the last quarter. State Street Corp raised its holdings in Kellanova by 5.2% in the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after acquiring an additional 731,273 shares during the period. Geode Capital Management LLC boosted its holdings in Kellanova by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company’s stock valued at $556,014,000 after acquiring an additional 158,560 shares during the period. Pentwater Capital Management LP grew its holdings in Kellanova by 8.5% in the 4th quarter. Pentwater Capital Management LP now owns 5,755,000 shares of the company’s stock valued at $465,982,000 after buying an additional 450,700 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Kellanova by 2.7% in the 4th quarter. Invesco Ltd. now owns 4,168,070 shares of the company’s stock valued at $337,489,000 after purchasing an additional 111,396 shares during the period. 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.