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

StockNews.com assumed coverage on shares of Kellanova (NYSE:K) in a report issued on Saturday. The firm issued a hold rating on the stock.

Several other equities research analysts have also recently issued reports on K. The Goldman Sachs Group assumed coverage on shares of Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective for the company. BNP Paribas raised shares of 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. Barclays increased their price objective on Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. 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. Finally, Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Fifteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $74.32.

Kellanova Price Performance

Shares of NYSE K opened at $81.05 on Friday. The firm has a 50-day simple moving average of $80.19 and a 200-day simple moving average of $66.58. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $27.71 billion, a price-to-earnings ratio of 30.36, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. Kellanova has a 52 week low of $49.28 and a 52 week high of $81.21.

Kellanova (NYSE:K) last released its earnings results on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The business’s revenue was down 4.7% on a year-over-year basis. During the same period last year, the company posted $1.25 EPS. On average, equities analysts predict that Kellanova will post 3.7 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.81%. This is a positive change 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 Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $57.67, for a total transaction of $4,486,726.00. Following the completion of the sale, the insider now directly owns 50,986,438 shares of the company’s stock, valued at approximately $2,940,387,879.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $57.67, for a total transaction of $4,486,726.00. Following the sale, the insider now owns 50,986,438 shares of the company’s stock, valued at approximately $2,940,387,879.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $80.65, for a total value of $9,241,118.95. Following the sale, the insider now owns 50,368,272 shares of the company’s stock, valued at approximately $4,062,201,136.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,154,298 shares of company stock valued at $88,847,101 over the last 90 days. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kellanova

A number of institutional investors and hedge funds have recently bought and sold shares of K. Blue Trust Inc. lifted its stake in Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after buying an additional 170 shares during the last quarter. Family Firm Inc. purchased a new stake in Kellanova in the 2nd quarter valued at $29,000. CVA Family Office LLC boosted its stake in Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after purchasing an additional 307 shares during the period. BNP Paribas purchased a new position in Kellanova during the 1st quarter worth $30,000. Finally, Newbridge Financial Services Group Inc. increased its stake in Kellanova by 61.9% in the second 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 during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.

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.