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

Kellanova (NYSE:K) has earned a consensus rating of “Hold” from the fifteen brokerages that are presently covering the company, Marketbeat Ratings reports. Fourteen investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $76.35.

A number of equities research analysts have recently weighed in on the stock. StockNews.com initiated coverage on shares of Kellanova in a report on Monday, December 30th. They issued a “hold” rating on the stock. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research note on Friday, November 1st. Finally, Argus cut Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $80.57, for a total transaction of $9,231,952.31. Following the transaction, the insider now owns 50,024,523 shares of the company’s stock, valued at $4,030,475,818.11. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 1,031,247 shares of company stock valued at $83,337,362 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 company. CVA Family Office LLC raised its stake in shares of 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 buying an additional 307 shares in the last quarter. Newbridge Financial Services Group Inc. grew its holdings in Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares during the period. MCF Advisors LLC raised its position in Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after acquiring an additional 137 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in Kellanova by 41.4% in the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after acquiring an additional 158 shares during the period. Finally, Mather Group LLC. boosted its position in shares of Kellanova by 71.3% during the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after purchasing an additional 256 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Up 0.2 %

Shares of NYSE K opened at $81.21 on Friday. The stock has a market cap of $27.99 billion, a P/E ratio of 27.91, a PEG ratio of 2.59 and a beta of 0.38. The business’s fifty day simple moving average is $80.81 and its 200-day simple moving average is $74.78. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.34. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34.

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

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s payout ratio is currently 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.