Barclays Cuts Kellanova (NYSE:K) Price Target to $61.00

Kellanova (NYSE:K) had its price objective lowered by Barclays from $64.00 to $61.00 in a research note published on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other equities analysts have also issued reports on the company. TD Cowen raised their price objective on Kellanova from $57.00 to $62.00 and gave the stock a hold rating in a report on Friday, May 3rd. DA Davidson raised their price target on Kellanova from $67.00 to $72.00 and gave the stock a buy rating in a report on Thursday, May 9th. JPMorgan Chase & Co. raised their price target on Kellanova from $59.00 to $66.00 and gave the stock a neutral rating in a report on Friday, May 3rd. Finally, Bank of America lowered their price target on Kellanova from $64.00 to $62.00 and set a neutral rating on the stock in a report on Wednesday, July 10th. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Kellanova has a consensus rating of Hold and an average price target of $61.62.

Kellanova Stock Down 1.5 %

Kellanova stock opened at $57.96 on Friday. Kellanova has a 1-year low of $47.63 and a 1-year high of $68.23. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. The stock has a market cap of $19.82 billion, a PE ratio of 21.71, a P/E/G ratio of 2.06 and a beta of 0.34. The stock’s fifty day moving average is $58.95 and its two-hundred day moving average is $57.07.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.10 earnings per share. On average, sell-side analysts expect that Kellanova will post 3.62 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Monday, June 3rd were given a $0.56 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.86%. Kellanova’s payout ratio is currently 83.90%.

Insider Activity at Kellanova

In related news, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $60.05, for a total value of $588,490.00. Following the completion of the sale, the senior vice president now owns 26,191 shares in the company, valued at $1,572,769.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the sale, the senior vice president now directly owns 26,191 shares in the company, valued at approximately $1,572,769.55. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $62.31, for a total transaction of $4,847,718.00. Following the sale, the insider now owns 51,686,638 shares of the company’s stock, valued at $3,220,594,413.78. The disclosure for this sale can be found here. Insiders sold a total of 787,800 shares of company stock worth $46,410,356 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. raised its position in shares of Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares during the last quarter. Bfsg LLC raised its position in shares of Kellanova by 64.5% during the 1st quarter. Bfsg LLC now owns 510 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares during the last quarter. BNP Paribas acquired a new position in shares of Kellanova during the 1st quarter worth approximately $30,000. Motco raised its position in shares of Kellanova by 757.6% during the 4th quarter. Motco now owns 566 shares of the company’s stock worth $32,000 after purchasing an additional 500 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Kellanova by 139.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 736 shares of the company’s stock worth $41,000 after purchasing an additional 428 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

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.