Kellanova (NYSE:K) Receives $79.41 Average PT from Analysts

Shares of Kellanova (NYSE:K) have been given a consensus rating of “Hold” by the thirteen research firms that are currently covering the firm, Marketbeat.com reports. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $79.41.

Several analysts have recently issued reports on the company. Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. StockNews.com cut Kellanova from a “buy” rating to a “hold” rating in a research report on Friday.

Kellanova Stock Down 0.3 %

Shares of NYSE:K opened at $82.61 on Friday. Kellanova has a 52 week low of $55.96 and a 52 week high of $83.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The company has a market cap of $28.52 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. The firm has a 50 day simple moving average of $82.40 and a 200 day simple moving average of $81.67.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Kellanova’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 earnings per share. As a group, research analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova’s payout ratio is presently 57.58%.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $82.23, for a total value of $9,422,160.09. Following the sale, the insider now owns 48,191,195 shares in the company, valued at approximately $3,962,761,964.85. The trade was a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 1,260,413 shares of company stock worth $103,801,886 over the last three months. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

A number of hedge funds have recently added to or reduced their stakes in K. Independent Advisor Alliance grew its stake in shares of Kellanova by 16.5% during the fourth quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock valued at $583,000 after purchasing an additional 1,019 shares during the last quarter. Aviva PLC boosted its position in Kellanova by 2.6% in the 4th quarter. Aviva PLC now owns 542,709 shares of the company’s stock valued at $43,943,000 after buying an additional 13,531 shares during the last quarter. Wedmont Private Capital acquired a new stake in shares of Kellanova in the 4th quarter valued at $384,000. Barclays PLC lifted its stake in shares of Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the period. Finally, FNY Investment Advisers LLC bought a new position in Kellanova in the fourth quarter valued at about $2,490,000. Institutional investors 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.