Kellanova (NYSE:K) Receives Average Recommendation of “Hold” from Brokerages

Kellanova (NYSE:K) has been given a consensus rating of “Hold” by the fifteen brokerages that are presently covering the company, Marketbeat reports. Fourteen investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $76.35.

A number of equities research analysts have recently weighed in on K shares. 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 note on Friday, November 1st. StockNews.com started coverage on shares of Kellanova in a research report on Sunday, December 22nd. They set a “hold” rating on the stock. Finally, Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd.

Kellanova Stock Up 0.1 %

Shares of NYSE K opened at $81.17 on Friday. The stock has a 50 day moving average price of $80.81 and a 200 day moving average price of $74.11. The firm has a market capitalization of $27.98 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 2.59 and a beta of 0.38. Kellanova has a 52-week low of $52.46 and a 52-week high of $81.34. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 earnings per share. Sell-side analysts expect that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is currently 78.35%.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $80.64, for a total value of $9,239,973.12. Following the completion of the transaction, the insider now directly owns 48,878,693 shares in the company, valued at approximately $3,941,577,803.52. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 1,031,247 shares of company stock worth $83,322,466 in the last quarter. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

Institutional investors have recently made changes to their positions in the stock. Investors Research Corp grew its stake in shares of Kellanova by 1.0% in the third quarter. Investors Research Corp now owns 12,991 shares of the company’s stock valued at $1,049,000 after buying an additional 125 shares in the last quarter. Assetmark Inc. grew its position in Kellanova by 26.2% in the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after acquiring an additional 131 shares in the last quarter. MCF Advisors LLC increased its stake in Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after purchasing an additional 137 shares during the period. S.A. Mason LLC lifted its position in shares of Kellanova by 7.6% during the third quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock worth $160,000 after purchasing an additional 140 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its stake in shares of Kellanova by 1.7% in the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock valued at $690,000 after purchasing an additional 145 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

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.