Kellanova (NYSE:K) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Kellanova (NYSE:K) in a research report sent to investors on Friday morning. The brokerage issued a hold rating on the stock.

Several other equities research analysts also recently issued reports on the company. Stifel Nicolaus increased their price objective on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. The Goldman Sachs Group assumed coverage on Kellanova in a research note on Monday, August 12th. They issued a “neutral” rating and a $75.00 price objective for the company. DA Davidson downgraded Kellanova from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft increased their price objective on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Kellanova presently has an average rating of “Hold” and an average price target of $76.35.

Kellanova Trading Down 0.0 %

NYSE:K opened at $80.74 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Kellanova has a 1-year low of $52.46 and a 1-year high of $81.34. The firm has a market capitalization of $27.83 billion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 2.58 and a beta of 0.38. The stock has a fifty day simple moving average of $80.82 and a 200 day simple moving average of $72.04.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating 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 business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the company posted $1.03 EPS. Kellanova’s revenue for the quarter was down .7% on a year-over-year basis. Sell-side analysts forecast that Kellanova will post 3.75 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s payout ratio is presently 78.35%.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $80.68, for a total transaction of $9,244,556.44. Following the completion of the transaction, the insider now owns 50,253,689 shares in the company, valued at $4,054,467,628.52. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 1,031,247 shares of company stock valued at $83,321,320. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kellanova

Hedge funds and other institutional investors have recently modified their holdings of the stock. CVA Family Office LLC raised its position in Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after purchasing an additional 307 shares during the last quarter. MCF Advisors LLC raised its position in Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after purchasing an additional 137 shares during the last quarter. Blue Trust Inc. raised its position in Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after purchasing an additional 170 shares during the last quarter. Family Firm Inc. bought a new position in Kellanova in the 2nd quarter valued at $29,000. Finally, Newbridge Financial Services Group Inc. raised its position in Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

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.