Kellanova (NYSE:K) Receives $61.50 Consensus Price Target from Analysts

Kellanova (NYSE:K) has been given an average rating of “Hold” by the fourteen ratings firms that are covering the firm, Marketbeat reports. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $65.14.

A number of equities research analysts recently commented on K shares. Piper Sandler raised their price objective on shares of Kellanova from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft lifted their price target on Kellanova from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Friday. BNP Paribas upgraded Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price objective for the company in a research report on Monday. Barclays decreased their target price on shares of Kellanova from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Friday, July 19th. Finally, Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and increased their price target for the company from $62.00 to $70.00 in a report on Friday.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $62.01, for a total value of $4,824,378.00. Following the transaction, the insider now owns 51,608,838 shares of the company’s stock, valued at approximately $3,200,264,044.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 778,000 shares of company stock valued at $45,509,110 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. lifted its position in shares of Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares in the last quarter. Bfsg LLC lifted its holdings in Kellanova by 64.5% in the 1st quarter. Bfsg LLC now owns 510 shares of the company’s stock worth $29,000 after buying an additional 200 shares in the last quarter. Family Firm Inc. purchased a new position in Kellanova in the 2nd quarter valued at about $29,000. BNP Paribas purchased a new position in Kellanova in the 1st quarter valued at about $30,000. Finally, Motco grew its stake in shares of Kellanova by 757.6% during the fourth quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after acquiring an additional 500 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Kellanova Stock Up 16.2 %

Kellanova stock opened at $73.21 on Thursday. The company has a market capitalization of $25.03 billion, a P/E ratio of 27.33, a PEG ratio of 2.22 and a beta of 0.34. The stock has a 50-day simple moving average of $58.25 and a 200-day simple moving average of $57.26. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.41 and a current ratio of 0.73. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $75.40.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 earnings per share. Equities research analysts expect that Kellanova will post 3.68 earnings per share for the current year.

Kellanova Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s dividend payout ratio (DPR) is 85.39%.

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.