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

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

Other research analysts have also issued research reports about the company. DA Davidson lowered Kellanova from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $80.00 to $83.50 in a report on Monday, August 26th. Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a report on Friday, November 1st. Fifteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $76.35.

Kellanova Stock Performance

NYSE K opened at $80.82 on Friday. The company’s 50 day simple moving average is $80.81 and its two-hundred day simple moving average is $73.61. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. Kellanova has a 1 year low of $52.46 and a 1 year high of $81.34. The stock has a market capitalization of $27.86 billion, a PE ratio of 27.77, a P/E/G ratio of 2.59 and a beta of 0.38.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the business posted $1.03 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. Analysts predict that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.82%. Kellanova’s payout ratio is 78.35%.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $80.57, for a total value of $9,231,952.31. Following the sale, the insider now owns 50,024,523 shares of the company’s stock, valued at $4,030,475,818.11. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 1,031,247 shares of company stock valued at $83,322,466. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kellanova

Hedge funds and other institutional investors have recently modified their holdings of the company. Swedbank AB lifted its stake in Kellanova by 20.5% in the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after acquiring an additional 46,450 shares during the period. Toronto Dominion Bank raised its holdings in Kellanova by 5.1% in the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after purchasing an additional 8,686 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Kellanova by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after purchasing an additional 24,067 shares during the period. Barclays PLC boosted its stake in shares of Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after purchasing an additional 1,033,383 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Kellanova during the 3rd quarter valued at about $4,211,000. 83.87% of the stock is owned by institutional investors.

Kellanova Company Profile

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.