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

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

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada upgraded shares of 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. 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. Thirteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Kellanova presently has an average rating of “Hold” and an average price target of $77.96.

Kellanova Stock Performance

Kellanova stock opened at $82.61 on Monday. The firm has a fifty day simple moving average of $81.68 and a two-hundred day simple moving average of $80.94. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. Kellanova has a twelve month low of $52.46 and a twelve month high of $82.85. The company has a market capitalization of $28.52 billion, a PE ratio of 21.35, a P/E/G ratio of 4.21 and a beta of 0.37.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating 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%. Research analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova’s dividend payout ratio is 58.91%.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the sale, the insider now directly owns 49,222,442 shares in the company, valued at $3,997,354,514.82. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 1,145,830 shares of company stock valued at $93,291,187. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp increased its stake in shares of Kellanova by 8.1% during the fourth quarter. Mackenzie Financial Corp now owns 23,343 shares of the company’s stock valued at $1,890,000 after purchasing an additional 1,755 shares in the last quarter. BCK Capital Management LP grew its stake in shares of 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 buying an additional 84,970 shares during the last quarter. Vise Technologies Inc. increased its position in Kellanova by 100.1% during the 4th quarter. Vise Technologies Inc. now owns 6,450 shares of the company’s stock valued at $522,000 after buying an additional 3,227 shares in the last quarter. CSS LLC IL increased its position in Kellanova by 3,312.8% during the 4th quarter. CSS LLC IL now owns 13,651 shares of the company’s stock valued at $1,105,000 after buying an additional 13,251 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Kellanova by 3.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,661,225 shares of the company’s stock valued at $215,479,000 after buying an additional 86,293 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

About Kellanova

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.