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

Shares of Kellanova (NYSE:K) have been assigned a consensus rating of “Hold” from the fifteen research firms that are covering the company, MarketBeat Ratings reports. Fourteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $76.35.

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company raised their target price on Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research report on Friday, November 1st. DA Davidson cut shares of Kellanova from a “buy” rating to a “neutral” rating and boosted their target price for the company from $80.00 to $83.50 in a research note on Monday, August 26th. Piper Sandler raised their price target on shares of Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Finally, Stifel Nicolaus upped their price objective on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, August 12th.

Kellanova Stock Up 0.1 %

Kellanova stock opened at $81.10 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The stock has a market cap of $27.96 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 2.60 and a beta of 0.39. Kellanova has a fifty-two week low of $51.02 and a fifty-two week high of $81.26. The firm’s 50-day simple moving average is $80.65 and its 200 day simple moving average is $69.19.

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

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a dividend of $0.57 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. Kellanova’s dividend payout ratio (DPR) is 78.35%.

Insider Buying and Selling at Kellanova

In related 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 21st. The shares were sold at an average price of $80.96, for a total transaction of $9,276,639.68. Following the sale, the insider now owns 49,795,357 shares of the company’s stock, valued at approximately $4,031,432,102.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.96, for a total transaction of $9,276,639.68. Following the completion of the transaction, the insider now directly owns 49,795,357 shares in the company, valued at $4,031,432,102.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $80.32, for a total value of $6,248,896.00. Following the completion of the sale, the insider now directly owns 50,675,238 shares in the company, valued at approximately $4,070,235,116.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,150,064 shares of company stock valued at $92,680,265 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kellanova

Several hedge funds have recently bought and sold shares of the stock. D. E. Shaw & Co. Inc. lifted its stake in Kellanova by 766.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after purchasing an additional 1,664,461 shares during the last quarter. Maverick Capital Ltd. purchased a new stake in Kellanova in the second quarter worth approximately $88,065,000. Point72 Asset Management L.P. purchased a new stake in Kellanova in the second quarter worth approximately $63,585,000. Boston Partners grew its position in Kellanova by 117.1% during the first quarter. Boston Partners now owns 1,278,079 shares of the company’s stock valued at $73,221,000 after acquiring an additional 689,395 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Kellanova by 130.1% during the second quarter. AQR Capital Management LLC now owns 1,077,018 shares of the company’s stock worth $62,122,000 after acquiring an additional 608,989 shares in the last quarter. 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.