Kellanova (NYSE:K) PT Raised to $69.00 at JPMorgan Chase & Co.

Kellanova (NYSE:K) had its price target upped by JPMorgan Chase & Co. from $66.00 to $69.00 in a research report report published on Friday, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also recently weighed in on K. DA Davidson raised their target price on shares of Kellanova from $67.00 to $72.00 and gave the company a buy rating in a research note on Thursday, May 9th. Deutsche Bank Aktiengesellschaft raised their price objective on Kellanova from $60.00 to $62.00 and gave the company a hold rating in a research report on Friday. TD Cowen boosted their target price on Kellanova from $57.00 to $62.00 and gave the stock a hold rating in a research report on Friday, May 3rd. Bank of America upgraded Kellanova from a neutral rating to a buy rating and raised their price target for the company from $62.00 to $70.00 in a report on Friday. Finally, Barclays decreased their price objective on Kellanova from $64.00 to $61.00 and set an equal weight rating on the stock in a report on Friday, July 19th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $62.79.

Kellanova Price Performance

Shares of Kellanova stock opened at $62.98 on Friday. The company has a market capitalization of $21.53 billion, a price-to-earnings ratio of 23.59, 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 stock’s 50-day simple moving average is $58.25 and its 200-day simple moving average is $57.22. Kellanova has a 52 week low of $47.63 and a 52 week high of $67.79.

Kellanova (NYSE:K) last issued its earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the company earned $1.25 EPS. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. As a group, analysts expect that Kellanova will post 3.68 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.62%. This is an increase from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Tuesday, September 3rd. Kellanova’s dividend payout ratio is presently 83.90%.

Insiders Place Their Bets

In related news, SVP Nicolas Amaya sold 9,800 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the transaction, the senior vice president now owns 26,191 shares in the company, valued at approximately $1,572,769.55. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $60.05, for a total value of $588,490.00. Following the completion of the sale, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $60.92, for a total transaction of $4,739,576.00. Following the sale, the insider now directly owns 51,764,438 shares of the company’s stock, valued at approximately $3,153,489,562.96. The disclosure for this sale can be found here. Insiders sold a total of 865,600 shares of company stock valued at $50,837,176 over the last 90 days. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its position in shares of Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares during the period. Bfsg LLC raised its position in shares of Kellanova by 64.5% in the 1st quarter. Bfsg LLC now owns 510 shares of the company’s stock worth $29,000 after acquiring an additional 200 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of Kellanova during the 2nd quarter worth $29,000. BNP Paribas purchased a new position in Kellanova in the first quarter valued at about $30,000. Finally, Motco lifted its position in shares of Kellanova by 757.6% during the fourth quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

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.