Kellanova (NYSE:K) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Kellanova (NYSE:K) in a report released on Tuesday. The brokerage issued a hold rating on the stock.

K has been the topic of several other research reports. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas lowered shares of 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 analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.35.

Kellanova Stock Up 0.2 %

Shares of Kellanova stock opened at $81.53 on Tuesday. 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 company has a market cap of $28.10 billion, a P/E ratio of 28.02, a PEG ratio of 2.59 and a beta of 0.37. The firm’s 50 day moving average price is $80.87 and its 200-day moving average price is $75.54. Kellanova has a 52-week low of $52.46 and a 52-week high of $81.58.

Kellanova (NYSE:K) last announced its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.03 EPS. On average, sell-side analysts predict that Kellanova will post 3.74 EPS for the current fiscal 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 issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s payout ratio is currently 78.35%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’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 transaction, the insider now owns 49,909,940 shares of the company’s stock, valued at $4,024,238,462.20. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 1,031,247 shares of company stock valued at $83,418,716. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Kellanova

Several institutional investors have recently added to or reduced their stakes in K. CVA Family Office LLC grew its position in Kellanova by 529.3% in 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 in the last quarter. MCF Advisors LLC grew its holdings in shares of 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 purchasing an additional 137 shares in the last quarter. Newbridge Financial Services Group Inc. grew its holdings in shares of Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in Kellanova by 41.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after buying an additional 158 shares in the last quarter. Finally, Mather Group LLC. boosted its position in Kellanova by 71.3% in the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock valued at $50,000 after buying an additional 256 shares during the period. Institutional investors and hedge funds 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.