Kellanova (NYSE:K) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Kellanova (NYSE:K) in a report released on Monday, Marketbeat.com reports. The brokerage issued a neutral rating and a $75.00 price target on the stock.

Several other equities research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Kellanova from $66.00 to $69.00 and gave the company a neutral rating in a research report on Friday, August 2nd. Barclays upped their price objective on shares of Kellanova from $61.00 to $67.00 and gave the company an equal weight rating in a research note on Monday, August 5th. Royal Bank of Canada raised Kellanova from a sector perform rating to an outperform rating and raised their target price for the stock from $62.00 to $76.00 in a research note on Monday, August 5th. TD Cowen increased their price objective on Kellanova from $57.00 to $62.00 and gave the stock a hold rating in a report on Friday, May 3rd. Finally, Bank of America raised Kellanova from a neutral rating to a buy rating and boosted their target price for the company from $62.00 to $70.00 in a research note on Friday, August 2nd. Thirteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average target price of $73.57.

Kellanova Price Performance

Kellanova stock opened at $80.28 on Monday. The stock has a market cap of $27.45 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 2.22 and a beta of 0.34. The company has a quick ratio of 0.41, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. The business has a 50-day simple moving average of $61.01 and a 200 day simple moving average of $58.54. Kellanova has a 52 week low of $47.63 and a 52 week high of $80.46.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The firm’s revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 EPS. On average, research analysts forecast that Kellanova will post 3.68 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.57 per share. This is a boost from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Tuesday, September 3rd. Kellanova’s dividend payout ratio is currently 85.39%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $60.16, for a total value of $4,680,448.00. Following the transaction, the insider now owns 51,531,038 shares of the company’s stock, valued at $3,100,107,246.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 855,800 shares of company stock valued at $52,647,260 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Large investors have recently made changes to their positions in the business. Blue Trust Inc. increased its holdings in Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after acquiring an additional 170 shares during the last quarter. Zhang Financial LLC increased its holdings in shares of Kellanova by 0.8% in the first quarter. Zhang Financial LLC now owns 21,318 shares of the company’s stock worth $1,221,000 after purchasing an additional 176 shares during the last quarter. IFG Advisory LLC grew its holdings in Kellanova by 1.4% during the 2nd quarter. IFG Advisory LLC now owns 13,825 shares of the company’s stock valued at $797,000 after buying an additional 189 shares in the last quarter. Eukles Asset Management grew its holdings in shares of Kellanova by 0.7% in the second quarter. Eukles Asset Management now owns 26,378 shares of the company’s stock valued at $1,521,000 after purchasing an additional 193 shares in the last quarter. Finally, Bfsg LLC increased its position in Kellanova by 64.5% in the first quarter. Bfsg LLC now owns 510 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares during the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

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.