Kellanova (NYSE:K) Given Average Recommendation of “Hold” by Brokerages

Shares of Kellanova (NYSE:K) have been assigned an average recommendation of “Hold” from the fifteen brokerages that are currently covering the stock, MarketBeat reports. Fourteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $76.35.

Several brokerages have recently issued reports on K. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research note on Friday, November 1st. Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com started coverage on Kellanova in a research report on Thursday. They set a “hold” rating for the company.

Kellanova Stock Performance

Shares of K stock opened at $81.70 on Thursday. The business has a 50 day simple moving average of $80.98 and a 200 day simple moving average of $77.04. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The firm has a market capitalization of $28.16 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 2.50 and a beta of 0.37. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.82.

Kellanova (NYSE:K) last announced its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. Kellanova’s revenue was down .7% compared to the same quarter last year. On average, equities research analysts anticipate that Kellanova will post 3.75 EPS for the current year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.79%. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $80.99, for a total value of $9,280,077.17. Following the transaction, the insider now directly owns 49,337,025 shares of the company’s stock, valued at $3,995,805,654.75. The trade was a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 1,031,247 shares of company stock valued at $83,592,882. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. CVA Family Office LLC lifted its position in Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after purchasing an additional 307 shares during the period. Newbridge Financial Services Group Inc. lifted its holdings in shares of Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares during the period. MCF Advisors LLC boosted its position in shares of Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after acquiring an additional 137 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in Kellanova by 41.4% in the third 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 period. Finally, Mather Group LLC. raised its position in Kellanova by 71.3% in the third quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after purchasing an additional 256 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

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.