Kellanova (NYSE:K) Sets New 12-Month High – Time to Buy?

Kellanova (NYSE:K) reached a new 52-week high during trading on Tuesday . The company traded as high as $81.79 and last traded at $81.78, with a volume of 2647218 shares changing hands. The stock had previously closed at $81.56.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on K. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a report on Friday, November 1st. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com initiated coverage on Kellanova in a research report on Wednesday, January 15th. They set a “hold” rating on the stock. Fifteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and a consensus target price of $76.35.

Kellanova Stock Performance

The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The firm has a market cap of $28.15 billion, a price-to-earnings ratio of 28.08, a P/E/G ratio of 2.50 and a beta of 0.37. The firm has a fifty day simple moving average of $80.97 and a two-hundred day simple moving average of $76.86.

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, beating analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. During the same quarter in the prior year, the business posted $1.03 EPS. Kellanova’s revenue for the quarter was down .7% compared to the same quarter last year. On average, analysts expect that Kellanova will post 3.75 EPS for the current year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were given a dividend of $0.57 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.79%. Kellanova’s dividend payout ratio is currently 78.35%.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $80.99, for a total transaction of $9,280,077.17. Following the completion of the transaction, the insider now owns 49,337,025 shares of the company’s stock, valued at $3,995,805,654.75. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 916,664 shares of company stock valued at $74,232,597. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Institutional investors have recently modified their holdings of the stock. CVA Family Office LLC grew its holdings in Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after acquiring an additional 307 shares during the period. Newbridge Financial Services Group Inc. boosted 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 buying an additional 200 shares in the last quarter. MCF Advisors LLC increased its holdings in Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after buying an additional 137 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in Kellanova by 41.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after purchasing an additional 158 shares during the period. Finally, Mather Group LLC. raised its stake 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 buying an additional 256 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

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.