Brokerages Set Kellanova (NYSE:K) Target Price at $76.35

Kellanova (NYSE:K) has been given an average rating of “Hold” by the fifteen research firms that are covering the firm, Marketbeat Ratings reports. Fourteen investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $76.35.

Several equities research analysts have issued reports on K shares. StockNews.com began coverage on Kellanova in a research report on Monday. They set a “hold” rating on the stock. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research note on Friday, November 1st.

Kellanova Stock Up 0.1 %

Kellanova stock opened at $81.06 on Friday. The company has a market capitalization of $27.94 billion, a PE ratio of 27.86, a PEG ratio of 2.59 and a beta of 0.38. The firm’s fifty day moving average is $80.81 and its 200 day moving average is $74.73. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.34.

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

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $80.63, for a total value of $9,238,827.29. Following the completion of the sale, the insider now directly owns 49,909,940 shares in the company, valued at $4,024,238,462.20. 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 is available at this link. Over the last ninety days, insiders sold 1,031,247 shares of company stock worth $83,337,362. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of K. CVA Family Office LLC boosted its holdings in shares of Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after buying an additional 307 shares in the last quarter. Newbridge Financial Services Group Inc. raised its position in Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares in the last quarter. MCF Advisors LLC boosted its holdings in Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in Kellanova by 41.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after purchasing an additional 158 shares in the last quarter. Finally, Mather Group LLC. raised its stake in shares of Kellanova by 71.3% during the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after buying an additional 256 shares during the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

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.