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

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

Other equities analysts also recently issued reports about the stock. DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $80.00 to $83.50 in a report on Monday, August 26th. Piper Sandler increased their price objective on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a report on Thursday, August 15th. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research note on Friday, November 1st. Bank of America upgraded Kellanova from a “neutral” rating to a “buy” rating and increased their price target for the stock from $62.00 to $70.00 in a research note on Friday, August 2nd. Finally, Barclays boosted their price objective on Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Kellanova has a consensus rating of “Hold” and a consensus target price of $76.35.

Kellanova Stock Performance

Shares of Kellanova stock opened at $81.17 on Wednesday. The company has a market cap of $27.98 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. 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 52 week low of $51.02 and a 52 week high of $81.34. The business has a 50 day moving average price of $80.77 and a 200-day moving average price of $70.58.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating 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 business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the business earned $1.03 EPS. The business’s revenue was down .7% on a year-over-year basis. Equities analysts anticipate that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently declared 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 payout ratio is 78.35%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the sale, the insider now owns 50,482,855 shares in the company, valued at approximately $4,051,249,113.75. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 1,109,047 shares of company stock valued at $89,483,556. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

A number of institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in Kellanova during the third quarter valued at approximately $374,000. Bard Financial Services Inc. purchased a new stake in shares of Kellanova during the 3rd quarter valued at $272,000. Toronto Dominion Bank lifted its holdings in shares of Kellanova by 5.1% during the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after acquiring an additional 8,686 shares during the last quarter. Coldstream Capital Management Inc. purchased a new position in Kellanova in the third quarter worth $394,000. Finally, Geode Capital Management LLC increased its stake in Kellanova by 3.0% in the third quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock valued at $541,052,000 after acquiring an additional 196,564 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

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.