Kellanova (NYSE:K) Earns Hold Rating from Analysts at StockNews.com

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

A number of other equities analysts have also recently commented on K. Wells Fargo & Company raised their target price on Kellanova from $76.00 to $83.50 and gave the stock an equal weight rating in a report on Thursday, August 15th. Stifel Nicolaus raised their price objective on Kellanova from $64.00 to $76.00 and gave the stock a hold rating in a research note on Monday, August 12th. Royal Bank of Canada cut Kellanova from an outperform rating to a sector perform rating and lifted their price objective for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. Barclays increased their target price on shares of Kellanova from $67.00 to $83.00 and gave the stock an equal weight rating in a report on Thursday, August 15th. Finally, BNP Paribas raised shares of Kellanova from a neutral rating to an outperform rating and set a $74.00 price target on the stock in a report on Monday, August 5th. Fourteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Kellanova currently has an average rating of Hold and a consensus price target of $74.32.

Kellanova Trading Up 0.1 %

NYSE:K opened at $80.76 on Wednesday. The company has a 50 day simple moving average of $74.25 and a two-hundred day simple moving average of $63.74. The company has a market cap of $27.61 billion, a PE ratio of 30.25, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46. Kellanova has a 12 month low of $47.63 and a 12 month high of $80.97.

Kellanova (NYSE:K) last posted its earnings results on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. Kellanova’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 earnings per share. Research analysts forecast that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were issued a $0.57 dividend. This is an increase from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Tuesday, September 3rd. Kellanova’s payout ratio is currently 85.39%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $56.19, for a total transaction of $4,371,582.00. Following the completion of the transaction, the insider now owns 51,064,238 shares in the company, valued at approximately $2,869,299,533.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Monday, July 15th. The shares were sold at an average price of $56.19, for a total value of $4,371,582.00. Following the completion of the transaction, the insider now directly owns 51,064,238 shares of the company’s stock, valued at approximately $2,869,299,533.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the sale, the insider now owns 50,482,855 shares in the company, valued at $4,051,249,113.75. The disclosure for this sale can be found here. Insiders sold 966,149 shares of company stock valued at $69,866,455 in the last 90 days. Insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

Institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. boosted 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 valued at $27,000 after buying an additional 170 shares during the period. Family Firm Inc. bought a new stake in shares of Kellanova during the 2nd quarter worth approximately $29,000. BNP Paribas purchased a new position in Kellanova during the 1st quarter valued at $30,000. Newbridge Financial Services Group Inc. increased its stake 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 purchasing an additional 200 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in shares of Kellanova during the second quarter worth $39,000. 83.87% of the stock is currently owned by 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.