Kellanova (NYSE:K) Receives $74.32 Average PT from Analysts

Kellanova (NYSE:K) has been assigned a consensus rating of “Hold” from the sixteen ratings firms that are currently covering the company, Marketbeat reports. Fourteen investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $74.32.

A number of equities analysts have weighed in on K shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a report on Thursday, August 15th. DA Davidson cut Kellanova from a “buy” rating to a “neutral” rating and lifted their target price for the company from $80.00 to $83.50 in a report on Monday, August 26th. Wells Fargo & Company upped their price target on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Bank of America raised Kellanova from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $62.00 to $70.00 in a research note on Friday, August 2nd. Finally, Evercore ISI raised shares of Kellanova to a “hold” rating in a research report on Friday, August 2nd.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Monday, July 29th. The shares were sold at an average price of $57.23, for a total value of $4,452,494.00. Following the completion of the sale, the insider now owns 50,908,638 shares in the company, valued at approximately $2,913,501,352.74. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.96, for a total value of $9,276,639.68. Following the completion of the transaction, the insider now owns 49,795,357 shares in the company, valued at approximately $4,031,432,102.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $57.23, for a total value of $4,452,494.00. Following the completion of the sale, the insider now owns 50,908,638 shares of the company’s stock, valued at $2,913,501,352.74. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,191,081 shares of company stock valued at $93,637,014. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

A number of institutional investors have recently modified their holdings of K. Swedbank AB grew its holdings in shares of Kellanova by 20.5% during the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock valued at $22,076,000 after purchasing an additional 46,450 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in Kellanova by 4.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock worth $14,705,000 after buying an additional 10,676 shares during the period. SG Americas Securities LLC lifted its stake in Kellanova by 498.7% in the second quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock valued at $15,049,000 after buying an additional 217,320 shares during the last quarter. Banque Cantonale Vaudoise lifted its position in Kellanova by 35.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 79,701 shares of the company’s stock valued at $4,566,000 after purchasing an additional 20,866 shares during the last quarter. Finally, M&G Plc acquired a new position in Kellanova during the 1st quarter valued at about $9,346,000. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

Kellanova stock opened at $81.19 on Tuesday. The stock has a fifty day moving average price of $80.31 and a 200 day moving average price of $66.82. Kellanova has a 52 week low of $49.28 and a 52 week high of $81.26. The firm has a market capitalization of $27.76 billion, a P/E ratio of 30.41, a PEG ratio of 2.59 and a beta of 0.39. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the company posted $1.25 EPS. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. Equities research analysts anticipate that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.81%. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, September 3rd. Kellanova’s payout ratio is presently 85.39%.

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.