Brokerages Set Kellanova (NYSE:K) PT at $83.38

Shares of Kellanova (NYSE:K) have been assigned an average rating of “Hold” from the four ratings firms that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $83.3750.

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. assumed coverage on Kellanova in a report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 target price for the company. Wall Street Zen cut Kellanova from a “hold” rating to a “sell” rating in a report on Sunday, September 21st.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of Kellanova stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $79.55, for a total value of $9,116,350.45. Following the completion of the transaction, the insider owned 45,097,438 shares in the company, valued at approximately $3,587,501,192.90. This trade represents a 0.25% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 802,097 shares of company stock valued at $63,999,316. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Several hedge funds and other institutional investors have recently made changes to their positions in K. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Kellanova by 8.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,184 shares of the company’s stock valued at $1,310,000 after buying an additional 1,265 shares during the period. Versant Capital Management Inc boosted its stake in shares of Kellanova by 32.5% in the 1st quarter. Versant Capital Management Inc now owns 1,024 shares of the company’s stock valued at $84,000 after buying an additional 251 shares during the period. GAMMA Investing LLC boosted its stake in shares of Kellanova by 8,377.9% in the 1st quarter. GAMMA Investing LLC now owns 568,274 shares of the company’s stock valued at $46,877,000 after buying an additional 561,571 shares during the period. Rhumbline Advisers boosted its stake in shares of Kellanova by 10.8% in the 1st quarter. Rhumbline Advisers now owns 694,801 shares of the company’s stock valued at $57,314,000 after buying an additional 67,465 shares during the period. Finally, Czech National Bank raised its position in shares of Kellanova by 5.9% during the 1st quarter. Czech National Bank now owns 61,754 shares of the company’s stock worth $5,094,000 after acquiring an additional 3,458 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

Shares of Kellanova stock opened at $82.65 on Tuesday. The business has a 50-day moving average of $79.60 and a 200 day moving average of $80.78. Kellanova has a 12 month low of $76.48 and a 12 month high of $83.22. The stock has a market capitalization of $28.73 billion, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 5.13 and a beta of 0.24. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45.

Kellanova (NYSE:K) last announced its earnings results on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter last year, the business earned $1.01 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Tuesday, September 2nd. This is a boost from Kellanova’s previous quarterly dividend of $0.57. Kellanova’s dividend payout ratio (DPR) is 60.89%.

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.