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

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

Several other analysts also recently weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Barclays increased their price target on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $62.00 to $70.00 in a research report on Friday, August 2nd. Stifel Nicolaus increased their target price on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Finally, BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a report on Friday, November 1st. Fifteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $76.35.

Kellanova Price Performance

K stock opened at $81.17 on Wednesday. The firm has a market cap of $27.98 billion, a P/E ratio of 27.89, a P/E/G ratio of 2.59 and a beta of 0.39. The firm’s fifty day moving average is $80.77 and its 200 day moving average is $70.58. Kellanova has a 52 week low of $51.02 and a 52 week high of $81.34. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77.

Kellanova (NYSE:K) last announced its quarterly earnings data 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 firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the firm earned $1.03 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. Research analysts predict that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s payout ratio is presently 78.35%.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’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 completion of the transaction, the insider now owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 1,109,047 shares of company stock worth $89,483,556 over the last ninety days. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Kellanova

A number of hedge funds have recently made changes to their positions in K. CVA Family Office LLC boosted its stake in Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after purchasing an additional 307 shares in the last quarter. MCF Advisors LLC grew its holdings in shares of Kellanova by 48.8% during 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 during the last quarter. Blue Trust Inc. grew its holdings in shares of Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after buying an additional 170 shares during the last quarter. Family Firm Inc. purchased a new position in Kellanova in the 2nd quarter worth approximately $29,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in Kellanova by 61.9% in the 2nd 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 last quarter. 83.87% of the stock is owned by institutional investors.

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.