Kellanova (NYSE:K) Research Coverage Started at StockNews.com

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

Separately, Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price on the stock 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 stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $77.96.

Kellanova Trading Up 0.1 %

Shares of Kellanova stock opened at $82.41 on Tuesday. The stock has a market capitalization of $28.45 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37. Kellanova has a 52 week low of $52.46 and a 52 week high of $83.22. The stock has a 50 day moving average price of $81.89 and a two-hundred day moving average price of $81.11. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81.

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

Kellanova Dividend Announcement

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

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the completion of the sale, the insider now directly owns 48,878,693 shares of the company’s stock, valued at $3,941,577,803.52. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders sold 1,145,830 shares of company stock valued at $93,461,916. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Kellanova

Large investors have recently made changes to their positions in the business. Siemens Fonds Invest GmbH increased its holdings in Kellanova by 257.5% in the 4th quarter. Siemens Fonds Invest GmbH now owns 33,532 shares of the company’s stock worth $2,715,000 after acquiring an additional 24,153 shares during the last quarter. Menard Financial Group LLC purchased a new stake in Kellanova in the 4th quarter worth about $73,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Kellanova in the 4th quarter worth about $15,138,000. Mackenzie Financial Corp increased its holdings in Kellanova by 8.1% in the 4th quarter. Mackenzie Financial Corp now owns 23,343 shares of the company’s stock worth $1,890,000 after acquiring an additional 1,755 shares during the last quarter. Finally, BCK Capital Management LP increased its holdings in Kellanova by 101.6% in the 4th quarter. BCK Capital Management LP now owns 168,610 shares of the company’s stock worth $13,652,000 after acquiring an additional 84,970 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other 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.