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

Shares of Kellanova (NYSE:K) have earned a consensus recommendation of “Hold” from the fourteen analysts that are currently covering the stock, Marketbeat Ratings reports. Twelve research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $77.96.

K has been the subject of a number of analyst reports. StockNews.com started coverage on Kellanova in a research report on Wednesday. They issued a “hold” rating for the company. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective on the stock in a research note on Tuesday, February 18th.

Kellanova Price Performance

Shares of NYSE:K opened at $82.30 on Friday. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $83.22. The business has a 50-day moving average of $82.03 and a two-hundred day moving average of $81.18. The stock has a market capitalization of $28.41 billion, a P/E ratio of 21.26, a P/E/G ratio of 4.21 and a beta of 0.31. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping 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%. On average, equities research analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be issued a $0.57 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.28 annualized dividend and a yield of 2.77%. Kellanova’s dividend payout ratio (DPR) is 58.91%.

Insider Buying and Selling 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 Friday, March 7th. The stock was sold at an average price of $82.55, for a total transaction of $9,458,826.65. Following the sale, the insider now directly owns 47,732,863 shares in the company, valued at $3,940,347,840.65. This represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 1,145,830 shares of company stock valued at $93,673,894 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

Large investors have recently bought and sold shares of the business. Toronto Dominion Bank grew its position in Kellanova by 5.1% during the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after acquiring an additional 8,686 shares during the last quarter. Wedmont Private Capital bought a new position in Kellanova in the 4th quarter valued at $384,000. Barclays PLC boosted its position in Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after buying an additional 1,033,383 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Kellanova in the 3rd quarter valued at $4,211,000. Finally, Impax Asset Management Group plc bought a new position in Kellanova in the 3rd quarter valued at $4,991,000. 83.87% of the stock is currently owned by institutional investors.

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.