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

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

Separately, Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price on the stock in a research note on Tuesday, February 18th. Thirteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $77.96.

Kellanova Trading Down 0.1 %

Shares of NYSE K opened at $82.22 on Wednesday. Kellanova has a twelve month low of $52.53 and a twelve month high of $83.22. The firm has a market cap of $28.38 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The business has a fifty day simple moving average of $82.05 and a two-hundred day simple moving average of $81.19. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.57 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova’s payout ratio is 58.91%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $82.26, for a total value of $9,425,597.58. Following the completion of the transaction, the insider now directly owns 47,618,280 shares of the company’s stock, valued at approximately $3,917,079,712.80. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 1,260,413 shares of company stock valued at $103,099,492 over the last quarter. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of K. Stonebridge Financial Group LLC purchased a new position in shares of Kellanova during the 4th quarter valued at approximately $27,000. BankPlus Trust Department acquired a new position in Kellanova in the 4th quarter valued at $28,000. Rialto Wealth Management LLC acquired a new position in Kellanova in the 4th quarter valued at $32,000. Flagship Wealth Advisors LLC acquired a new position in Kellanova in the 4th quarter valued at $32,000. Finally, First Horizon Advisors Inc. increased its stake in shares of Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after acquiring an additional 173 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

About Kellanova

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.