Kellanova (NYSE:K) Coverage Initiated by Analysts at StockNews.com

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

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

Kellanova Stock Performance

Shares of K stock opened at $82.29 on Wednesday. Kellanova has a one year low of $52.46 and a one year high of $83.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The company has a 50 day moving average price of $82.00 and a 200 day moving average price of $81.17. The firm has a market capitalization of $28.41 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Sell-side analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.57 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. Kellanova’s dividend payout ratio (DPR) is 58.91%.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $82.55, for a total value of $9,458,826.65. Following the transaction, the insider now directly owns 47,732,863 shares in the company, valued at approximately $3,940,347,840.65. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 1,145,830 shares of company stock worth $93,673,894. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Stonebridge Financial Group LLC acquired a new stake in shares of Kellanova in the 4th quarter worth about $27,000. BankPlus Trust Department acquired a new position in Kellanova during the 4th quarter valued at about $28,000. Rialto Wealth Management LLC acquired a new position in Kellanova during the 4th quarter valued at about $32,000. Flagship Wealth Advisors LLC bought a new position in shares of Kellanova during the 4th quarter valued at about $32,000. Finally, First Horizon Advisors Inc. raised its holdings 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 purchasing an additional 173 shares in the last quarter. 83.87% of the stock is currently owned by 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.