Kellanova (NYSE:K) Given Consensus Recommendation of “Hold” by Analysts

Kellanova (NYSE:K) has been assigned a consensus recommendation of “Hold” from the fifteen brokerages that are covering the stock, MarketBeat reports. Fourteen investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $76.35.

A number of brokerages have weighed in on K. Stifel Nicolaus increased their price target on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, August 12th. StockNews.com started coverage on Kellanova in a report on Monday, November 4th. They issued a “hold” rating for the company. Piper Sandler increased their price target on Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $62.00 to $70.00 in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the sale, the insider now directly owns 49,680,774 shares in the company, valued at $4,012,219,308.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $80.32, for a total value of $6,248,896.00. Following the sale, the insider now owns 50,675,238 shares of the company’s stock, valued at $4,070,235,116.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $80.76, for a total value of $9,253,723.08. Following the sale, the insider now owns 49,680,774 shares of the company’s stock, valued at approximately $4,012,219,308.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,150,064 shares of company stock worth $92,680,265 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

Several hedge funds have recently added to or reduced their stakes in K. Assetmark Inc. grew its holdings in shares of Kellanova by 26.2% during the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after purchasing an additional 131 shares during the last quarter. MCF Advisors LLC grew its stake in shares of Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after buying an additional 137 shares during the last quarter. S.A. Mason LLC increased its holdings in shares of Kellanova by 7.6% in the third quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock worth $160,000 after buying an additional 140 shares during the period. Capital Advisors Ltd. LLC lifted its stake in shares of Kellanova by 41.4% in 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, Blue Trust Inc. boosted its holdings in Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after acquiring an additional 170 shares during the period. Institutional investors own 83.87% of the company’s stock.

Kellanova Trading Up 0.4 %

Shares of Kellanova stock opened at $81.00 on Friday. The firm’s 50 day moving average is $80.65 and its 200 day moving average is $69.03. The firm has a market capitalization of $27.92 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 2.60 and a beta of 0.39. Kellanova has a 1 year low of $51.02 and a 1 year high of $81.26. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the firm posted $1.03 earnings per share. Equities research analysts forecast that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Monday, December 2nd. Kellanova’s payout ratio is currently 78.35%.

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.