Kellanova (NYSE:K) Now Covered by Analysts at StockNews.com

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

A number of other brokerages also recently commented on K. BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research report on Friday, November 1st. Argus cut 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 assigned a buy rating to the stock. According to MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and a consensus target price of $76.35.

Kellanova Stock Performance

NYSE:K opened at $81.24 on Wednesday. The company has a market cap of $28.00 billion, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 2.49 and a beta of 0.37. 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 52 week low of $52.46 and a 52 week high of $81.58. The company has a fifty day simple moving average of $80.92 and a two-hundred day simple moving average of $76.17.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate 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 in the prior year, the business earned $1.03 EPS. Kellanova’s revenue was down .7% on a year-over-year basis. As a group, equities analysts anticipate that Kellanova will post 3.75 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently announced 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 2.81%. Kellanova’s payout ratio is currently 78.35%.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $80.64, for a total value of $9,239,973.12. Following the sale, the insider now directly owns 48,878,693 shares in the company, valued at $3,941,577,803.52. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 1,031,247 shares of company stock valued at $83,509,236. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CVA Family Office LLC lifted its stake in shares of Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after purchasing an additional 307 shares during the period. Newbridge Financial Services Group Inc. increased its stake in Kellanova by 61.9% in the second 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. MCF Advisors LLC boosted its stake in Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares during the last quarter. Capital Advisors Ltd. LLC increased its stake in shares of Kellanova by 41.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after acquiring an additional 158 shares during the last quarter. Finally, Mather Group LLC. boosted its position in shares of Kellanova by 71.3% in the third quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after acquiring an additional 256 shares during the last quarter. Hedge funds and other 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.