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

Kellanova (NYSE:K)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $81.35 and last traded at $81.31, with a volume of 1196101 shares changing hands. The stock had previously closed at $81.22.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on K shares. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research report on Friday, November 1st. StockNews.com began coverage on Kellanova in a research note on Tuesday. They set a “hold” rating on the stock. Finally, Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $76.35.

Kellanova Stock Up 0.2 %

The firm has a 50 day simple moving average of $80.85 and a two-hundred day simple moving average of $75.50. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $28.10 billion, a P/E ratio of 28.02, a PEG ratio of 2.59 and a beta of 0.37.

Kellanova (NYSE:K) last announced its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate 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 in the prior year, the company earned $1.03 EPS. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. On average, equities research analysts expect that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 49,909,940 shares of the company’s stock, valued at approximately $4,024,238,462.20. This represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 1,031,247 shares of company stock valued at $83,418,716 in the last three months. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

A number of hedge funds have recently bought and sold shares of K. CVA Family Office LLC grew 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 valued at $29,000 after acquiring an additional 307 shares during the period. MCF Advisors LLC raised its position in 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 purchasing an additional 137 shares during the period. Newbridge Financial Services Group Inc. lifted its holdings in shares of 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. Capital Advisors Ltd. LLC raised its holdings in shares of Kellanova by 41.4% in the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after buying an additional 158 shares during the period. Finally, Mather Group LLC. boosted its stake in shares of Kellanova by 71.3% during the third quarter. Mather Group LLC. now owns 615 shares of the company’s stock valued at $50,000 after purchasing an additional 256 shares during the period. 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.