Kellanova (NYSE:K) Receives $76.35 Consensus Target Price from Brokerages

Kellanova (NYSE:K) has earned an average recommendation of “Hold” from the fifteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Fourteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $76.35.

A number of research analysts have commented on the company. Piper Sandler upped their price objective on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a report on Thursday, August 15th. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research report on Friday, November 1st. Stifel Nicolaus boosted their target price on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Barclays increased their target price on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a report on Thursday, August 15th.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 50,368,272 shares in the company, valued at $4,062,201,136.80. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders have sold 1,031,247 shares of company stock valued at $83,321,320. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Kellanova

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Retirement Systems of Alabama boosted its stake in Kellanova by 0.6% during the 3rd quarter. Retirement Systems of Alabama now owns 58,422 shares of the company’s stock valued at $4,715,000 after purchasing an additional 351 shares during the last quarter. Peapack Gladstone Financial Corp boosted its position in shares of Kellanova by 0.6% during the third quarter. Peapack Gladstone Financial Corp now owns 81,629 shares of the company’s stock valued at $6,587,000 after buying an additional 507 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Kellanova during the third quarter worth $210,000. Sanctuary Advisors LLC raised its position in Kellanova by 1.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock valued at $690,000 after buying an additional 145 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Kellanova in the 3rd quarter valued at $374,000. Institutional investors own 83.87% of the company’s stock.

Kellanova Trading Down 0.0 %

NYSE:K opened at $80.74 on Wednesday. The company has a market cap of $27.83 billion, a P/E ratio of 27.75, a price-to-earnings-growth ratio of 2.58 and a beta of 0.38. Kellanova has a twelve month low of $52.46 and a twelve month high of $81.34. The business has a 50 day moving average price of $80.82 and a two-hundred day moving average price of $72.04. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last issued its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $3.23 billion for 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%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $1.03 earnings per share. As a group, analysts expect that Kellanova will post 3.75 EPS for the current fiscal 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 given a dividend of $0.57 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.82%. Kellanova’s payout ratio is 78.35%.

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.