Analysts Set Kellanova (NYSE:K) Target Price at $77.96

Shares of Kellanova (NYSE:K) have received an average rating of “Hold” from the fourteen research firms that are covering the company, Marketbeat.com reports. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $77.96.

A number of equities research analysts have recently commented on K shares. StockNews.com initiated coverage on Kellanova in a research report on Thursday. They set a “hold” rating for the company. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target for the company in a research report on Tuesday, February 18th.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $82.26, for a total value of $9,425,597.58. Following the completion of the sale, the insider now directly owns 47,618,280 shares in the company, valued at $3,917,079,712.80. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 1,260,413 shares of company stock valued at $103,099,492. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Kellanova

Institutional investors and hedge funds have recently modified their holdings of the business. Stonebridge Financial Group LLC bought a new stake in shares of Kellanova during the 4th quarter worth $27,000. BankPlus Trust Department bought a new stake in Kellanova during the fourth quarter valued at about $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Kellanova in the fourth quarter valued at about $32,000. Flagship Wealth Advisors LLC bought a new position in shares of Kellanova in the fourth quarter worth about $32,000. Finally, First Horizon Advisors Inc. lifted its position in shares of Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after purchasing an additional 173 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Price Performance

NYSE:K opened at $82.33 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The business’s 50-day moving average price is $82.12 and its 200 day moving average price is $81.24. Kellanova has a 52-week low of $54.70 and a 52-week high of $83.22. The firm has a market cap of $28.42 billion, a P/E ratio of 21.27, a PEG ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. As a group, sell-side analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova’s dividend payout ratio (DPR) is currently 58.91%.

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.