Kellanova (NYSE:K) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Kellanova (NYSE:K) in a report issued on Thursday morning. The brokerage issued a hold rating on the stock.

A number of other analysts have also recently weighed in on the stock. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a report on Friday, November 1st. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Evercore ISI raised Kellanova to a “hold” rating in a research report on Friday, August 2nd. DA Davidson lowered Kellanova from a “buy” rating to a “neutral” rating and increased their price objective for the company from $80.00 to $83.50 in a report on Monday, August 26th. Finally, Wells Fargo & Company boosted their target price on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Fifteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $76.35.

Kellanova Stock Performance

Shares of NYSE:K opened at $81.15 on Thursday. The firm has a 50 day moving average of $80.81 and a 200 day moving average of $71.19. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $27.97 billion, a price-to-earnings ratio of 27.89, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39. Kellanova has a 52 week low of $51.02 and a 52 week high of $81.34.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the previous year, the company posted $1.03 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. On average, sell-side analysts predict that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Monday, December 2nd. Kellanova’s dividend payout ratio is presently 78.35%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $80.99, for a total value of $9,280,077.17. Following the sale, the insider now directly owns 49,337,025 shares of the company’s stock, valued at approximately $3,995,805,654.75. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 1,031,247 shares of company stock valued at $83,211,320 over the last quarter. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kellanova

Several institutional investors and hedge funds have recently modified their holdings of K. Peapack Gladstone Financial Corp grew its stake in shares of Kellanova by 0.6% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 81,629 shares of the company’s stock worth $6,587,000 after purchasing an additional 507 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Kellanova during the third quarter valued at $210,000. Sanctuary Advisors LLC grew its position in Kellanova by 1.7% during the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock valued at $690,000 after buying an additional 145 shares during the period. Virtu Financial LLC purchased a new position in Kellanova in the third quarter valued at $374,000. Finally, Bard Financial Services Inc. acquired a new position in shares of Kellanova in the third quarter worth about $272,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

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.