Kellanova (NYSE:K) Research Coverage Started at StockNews.com

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

Other research analysts have also recently issued research reports about the stock. Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research note on Friday, November 1st. Fifteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $76.35.

Kellanova Stock Performance

NYSE:K opened at $80.97 on Monday. The company’s 50-day moving average is $80.80 and its two-hundred day moving average is $74.69. The firm has a market capitalization of $27.91 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 2.59 and a beta of 0.38. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. Kellanova has a 1-year low of $52.46 and a 1-year high of $81.34.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $3.16 billion. During the same period last year, the company earned $1.03 EPS. The company’s quarterly revenue was down .7% on a year-over-year basis. Analysts forecast that Kellanova will post 3.74 EPS for the current year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $80.63, for a total value of $9,238,827.29. Following the completion of the sale, the insider now owns 49,909,940 shares of the company’s stock, valued at approximately $4,024,238,462.20. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 1,031,247 shares of company stock worth $83,337,362. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Kellanova

Several institutional investors and hedge funds have recently made changes to their positions in K. International Assets Investment Management LLC acquired a new position in shares of Kellanova in the second quarter worth $63,000. Concurrent Investment Advisors LLC purchased a new stake in shares of Kellanova during the second quarter worth about $353,000. Farther Finance Advisors LLC lifted its stake in shares of Kellanova by 157.2% during the second quarter. Farther Finance Advisors LLC now owns 10,912 shares of the company’s stock valued at $619,000 after buying an additional 6,670 shares during the period. Natixis Advisors LLC boosted its position in Kellanova by 12.7% during the second quarter. Natixis Advisors LLC now owns 74,046 shares of the company’s stock worth $4,271,000 after acquiring an additional 8,373 shares during the last quarter. Finally, Eukles Asset Management grew its stake in Kellanova by 0.7% in the 2nd quarter. Eukles Asset Management now owns 26,378 shares of the company’s stock worth $1,521,000 after acquiring an additional 193 shares during the period. 83.87% of the stock is currently owned by hedge funds and other 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.