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

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

K has been the subject of several other research reports. Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a report on Friday, November 1st. Finally, DA Davidson cut Kellanova from a “buy” rating to a “neutral” rating and lifted their target price for the company from $80.00 to $83.50 in a report on Monday, August 26th. Fifteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Kellanova currently has an average rating of “Hold” and an average target price of $76.35.

Kellanova Price Performance

NYSE:K opened at $80.50 on Friday. The firm has a market cap of $27.75 billion, a price-to-earnings ratio of 27.66, a price-to-earnings-growth ratio of 2.59 and a beta of 0.38. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.34. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The company’s 50-day moving average is $80.81 and its two-hundred day moving average is $73.37.

Kellanova (NYSE:K) last announced its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. Kellanova’s revenue was down .7% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 earnings per share. Research analysts expect that Kellanova will post 3.74 EPS for the current year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.83%. The ex-dividend date was Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is 78.35%.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $80.57, for a total value of $9,231,952.31. Following the sale, the insider now directly owns 50,024,523 shares of the company’s stock, valued at $4,030,475,818.11. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 916,664 shares of company stock worth $74,082,493 in the last quarter. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kellanova

A number of institutional investors have recently modified their holdings of K. Blue Trust Inc. lifted its holdings in Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after buying an additional 170 shares during the last quarter. Beacon Financial Advisory LLC boosted its holdings in Kellanova by 14.5% in the second quarter. Beacon Financial Advisory LLC now owns 15,856 shares of the company’s stock worth $915,000 after purchasing an additional 2,005 shares during the period. Kintegral Advisory LLC increased its stake in Kellanova by 55.3% during the second quarter. Kintegral Advisory LLC now owns 89,968 shares of the company’s stock valued at $5,189,000 after purchasing an additional 32,051 shares during the last quarter. HB Wealth Management LLC raised its holdings in shares of Kellanova by 24.8% during the second quarter. HB Wealth Management LLC now owns 5,966 shares of the company’s stock worth $344,000 after purchasing an additional 1,184 shares during the period. Finally, Ridgewood Investments LLC bought a new position in shares of Kellanova in the 2nd quarter worth about $39,000. 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.