Kellanova (NYSE:K) Receives $77.96 Average PT from Brokerages

Shares of Kellanova (NYSE:K) have been given a consensus recommendation of “Hold” by the fourteen ratings firms that are currently covering the firm, MarketBeat reports. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $77.96.

Several research firms recently issued reports on K. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research report on Friday, November 1st. Royal Bank of Canada raised 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. Finally, StockNews.com initiated coverage on shares of Kellanova in a report on Monday. They issued a “hold” rating for the company.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $80.70, for a total value of $9,246,848.10. Following the completion of the transaction, the insider now owns 49,107,859 shares in the company, valued at $3,963,004,221.30. This represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have sold 1,145,830 shares of company stock valued at $93,291,187. Insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

A number of institutional investors have recently made changes to their positions in K. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Kellanova by 0.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,273 shares of the company’s stock worth $3,008,000 after purchasing an additional 324 shares in the last quarter. Stratos Wealth Advisors LLC bought a new stake in shares of Kellanova in the 3rd quarter worth $204,000. Chicago Capital LLC acquired a new stake in shares of Kellanova in the third quarter valued at $207,000. Northwest Investment Counselors LLC bought a new position in Kellanova during the third quarter valued at about $218,000. Finally, Foundations Investment Advisors LLC acquired a new position in Kellanova during the third quarter worth about $488,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Stock Performance

Shares of Kellanova stock opened at $82.63 on Monday. 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 has a 1 year low of $52.46 and a 1 year high of $82.72. The firm’s 50-day simple moving average is $81.55 and its 200-day simple moving average is $80.76. The firm has a market cap of $28.48 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Equities analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

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

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.