Kellanova (NYSE:K) Receives Consensus Rating of “Hold” from Analysts

Kellanova (NYSE:K) has been given an average recommendation of “Hold” by the fifteen research firms that are currently covering the firm, MarketBeat reports. Thirteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $74.32.

Several equities research analysts have issued reports on K shares. The Goldman Sachs Group began coverage on Kellanova in a research note on Monday, August 12th. They set a “neutral” rating and a $75.00 target price for the company. Wells Fargo & Company raised their price objective on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Stifel Nicolaus upped their target price on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, August 12th. BNP Paribas raised shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 target price for the company in a research note on Monday, August 5th. Finally, Barclays boosted their price target on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th.

Kellanova Price Performance

NYSE K opened at $80.65 on Friday. The business’s fifty day simple moving average is $71.90 and its 200-day simple moving average is $62.80. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. The firm has a market cap of $27.57 billion, a PE ratio of 30.21, a P/E/G ratio of 2.57 and a beta of 0.39. Kellanova has a 52 week low of $47.63 and a 52 week high of $80.97.

Kellanova (NYSE:K) last issued its earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the firm earned $1.25 earnings per share. Kellanova’s quarterly revenue was down 4.7% compared to the same quarter last year. As a group, equities analysts anticipate that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.83%. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s dividend payout ratio is currently 85.39%.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $56.14, for a total value of $4,367,692.00. Following the sale, the insider now owns 51,142,038 shares of the company’s stock, valued at approximately $2,871,114,013.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the completion of the transaction, the insider now owns 50,368,272 shares in the company, valued at $4,062,201,136.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $56.14, for a total value of $4,367,692.00. Following the completion of the transaction, the insider now directly owns 51,142,038 shares in the company, valued at approximately $2,871,114,013.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 929,366 shares of company stock worth $65,106,291. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its holdings in shares of Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after buying an additional 170 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in Kellanova by 1.9% in the second quarter. B. Riley Wealth Advisors Inc. now owns 9,810 shares of the company’s stock valued at $566,000 after acquiring an additional 180 shares in the last quarter. IFG Advisory LLC grew its holdings in shares of Kellanova by 1.4% during the second quarter. IFG Advisory LLC now owns 13,825 shares of the company’s stock worth $797,000 after purchasing an additional 189 shares during the last quarter. Eukles Asset Management increased its position in shares of Kellanova by 0.7% during the second quarter. Eukles Asset Management now owns 26,378 shares of the company’s stock worth $1,521,000 after purchasing an additional 193 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its holdings in shares of Kellanova by 61.9% in the 2nd 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. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

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.