Kellanova (NYSE:K) Sets New 52-Week High – What’s Next?

Kellanova (NYSE:K)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $82.75 and last traded at $82.71, with a volume of 2494582 shares changing hands. The stock had previously closed at $82.66.

Wall Street Analyst Weigh In

A number of research firms recently commented on K. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research report on Friday, November 1st. StockNews.com assumed coverage on Kellanova in a report on Monday. They set a “hold” rating on the stock. Finally, Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target for the company in a report on Tuesday, February 18th. Thirteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $77.96.

Kellanova Stock Up 0.1 %

The firm’s 50 day moving average price is $81.59 and its 200-day moving average price is $80.83. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The company has a market cap of $28.51 billion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37.

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

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.76%. Kellanova’s dividend payout ratio (DPR) is presently 58.91%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $82.25, for a total value of $9,424,451.75. Following the sale, the insider now directly owns 48,076,612 shares in the company, valued at approximately $3,954,301,337. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 1,145,830 shares of company stock valued at $93,291,187. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Kellanova

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Kellanova by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company’s stock worth $2,626,322,000 after purchasing an additional 281,137 shares in the last quarter. State Street Corp boosted its holdings in shares of Kellanova by 5.2% in the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after buying an additional 731,273 shares during the period. Geode Capital Management LLC increased its position in shares of Kellanova by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company’s stock worth $556,014,000 after acquiring an additional 158,560 shares in the last quarter. Pentwater Capital Management LP raised its holdings in shares of Kellanova by 8.5% during the fourth quarter. Pentwater Capital Management LP now owns 5,755,000 shares of the company’s stock worth $465,982,000 after acquiring an additional 450,700 shares during the period. Finally, Invesco Ltd. lifted its position in Kellanova by 2.7% in the 4th quarter. Invesco Ltd. now owns 4,168,070 shares of the company’s stock valued at $337,489,000 after acquiring an additional 111,396 shares in the last quarter. 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.