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

StockNews.com initiated coverage on shares of Kellanova (NYSE:K) in a report released on Wednesday morning. The firm issued a hold rating on the stock.

Several other research analysts also recently commented on the company. The Goldman Sachs Group initiated coverage on Kellanova in a report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective on the stock. Royal Bank of Canada downgraded Kellanova from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $76.00 to $83.50 in a report on Thursday, August 15th. DA Davidson cut shares of Kellanova from a “buy” rating to a “neutral” rating and increased their target price for the stock from $80.00 to $83.50 in a report on Monday, August 26th. JPMorgan Chase & Co. boosted their price target on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Barclays increased their price objective on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $76.35.

Kellanova Stock Up 0.3 %

Shares of NYSE K opened at $80.77 on Wednesday. Kellanova has a 1 year low of $51.02 and a 1 year high of $81.34. The firm has a 50-day simple moving average of $80.75 and a two-hundred day simple moving average of $70.43. The company has a market cap of $27.84 billion, a P/E ratio of 27.76, a PEG ratio of 2.59 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. Kellanova’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the company earned $1.03 EPS. Research analysts anticipate that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a dividend of $0.57 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.82%. Kellanova’s dividend payout ratio (DPR) is 78.35%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the transaction, the insider now owns 50,482,855 shares in the company, valued at approximately $4,051,249,113.75. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 994,464 shares of company stock worth $80,203,479. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Kellanova

Several hedge funds have recently made changes to their positions in the company. D. E. Shaw & Co. Inc. grew its stake in Kellanova by 766.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock valued at $108,532,000 after purchasing an additional 1,664,461 shares during the last quarter. Maverick Capital Ltd. acquired a new stake in shares of Kellanova during the second quarter worth about $88,065,000. Westchester Capital Management LLC purchased a new stake in Kellanova in the third quarter valued at approximately $107,795,000. Point72 Asset Management L.P. acquired a new position in Kellanova in the 2nd quarter worth approximately $63,585,000. Finally, Barclays PLC lifted its stake in Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the period. 83.87% of the stock is 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.