Kellanova (NYSE:K) Coverage Initiated by Analysts at StockNews.com

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

Other equities analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Kellanova from $76.00 to $83.50 and gave the stock a hold rating in a research note on Thursday, August 15th. Evercore ISI raised Kellanova to a hold rating in a research report on Friday, August 2nd. Piper Sandler boosted their price objective on Kellanova from $63.00 to $83.50 and gave the stock a neutral rating in a research report on Thursday, August 15th. The Goldman Sachs Group began coverage on shares of Kellanova in a research note on Monday, August 12th. They set a neutral rating and a $75.00 target price on the stock. Finally, BNP Paribas upgraded shares of Kellanova from a neutral rating to an outperform rating and set a $74.00 price target for the company in a research note on Monday, August 5th. Fourteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $74.32.

Kellanova Stock Performance

NYSE:K opened at $80.61 on Friday. The stock has a market capitalization of $27.56 billion, a P/E ratio of 30.19, a PEG ratio of 2.59 and a beta of 0.34. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $80.97. The company has a 50 day moving average price of $65.84 and a 200 day moving average price of $60.61.

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

Kellanova Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.57 per share. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date is Tuesday, September 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. Kellanova’s dividend payout ratio (DPR) is presently 85.39%.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $80.62, for a total value of $6,272,236.00. Following the completion of the sale, the insider now owns 50,597,438 shares in the company, valued at approximately $4,079,165,451.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 855,800 shares of company stock valued at $55,663,566. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Several institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its position in Kellanova by 57.2% in the 2nd 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 last quarter. Bfsg LLC boosted its holdings in shares of Kellanova by 64.5% in the first quarter. Bfsg LLC now owns 510 shares of the company’s stock valued at $29,000 after acquiring an additional 200 shares in the last quarter. Family Firm Inc. acquired a new position in shares of Kellanova during the second quarter worth about $29,000. BNP Paribas purchased a new position in Kellanova during the first quarter worth about $30,000. Finally, Motco lifted its position in Kellanova by 757.6% in the fourth quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

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.