Kellanova (NYSE:K) Given Consensus Rating of “Hold” by Analysts

Shares of Kellanova (NYSE:K) have earned a consensus recommendation of “Hold” from the thirteen analysts that are covering the firm, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $62.27.

Several analysts recently issued reports on the company. Piper Sandler raised their target price on Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. StockNews.com cut Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Barclays raised their price target on Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. Wells Fargo & Company boosted their price objective on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, February 9th.

Kellanova Price Performance

Shares of K opened at $57.73 on Tuesday. The company has a market capitalization of $19.73 billion, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 2.24 and a beta of 0.40. Kellanova has a 1 year low of $47.63 and a 1 year high of $72.30. The business has a 50-day moving average of $55.96 and a 200-day moving average of $54.29. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 EPS. As a group, equities research analysts anticipate that Kellanova will post 3.57 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.56 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.24 annualized dividend and a dividend yield of 3.88%. Kellanova’s payout ratio is currently 81.45%.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $57.76, for a total transaction of $4,493,728.00. Following the sale, the insider now directly owns 51,920,038 shares of the company’s stock, valued at approximately $2,998,901,394.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 933,600 shares of company stock valued at $51,632,748 in the last quarter. 1.80% of the stock is owned by insiders.

Institutional Trading of Kellanova

Institutional investors have recently added to or reduced their stakes in the business. Zhang Financial LLC boosted its holdings in shares of Kellanova by 0.8% during the 1st quarter. Zhang Financial LLC now owns 21,318 shares of the company’s stock valued at $1,221,000 after acquiring an additional 176 shares during the last quarter. Naples Global Advisors LLC lifted its holdings in shares of Kellanova by 1.7% in the 4th quarter. Naples Global Advisors LLC now owns 11,696 shares of the company’s stock valued at $654,000 after acquiring an additional 200 shares during the last quarter. Bfsg LLC raised its holdings in Kellanova by 64.5% during the 1st quarter. Bfsg LLC now owns 510 shares of the company’s stock valued at $29,000 after buying an additional 200 shares during the period. Huntington National Bank grew its holdings in Kellanova by 1.6% during the 3rd quarter. Huntington National Bank now owns 12,808 shares of the company’s stock valued at $762,000 after purchasing an additional 204 shares during the last quarter. Finally, Financial Advisors Network Inc. lifted its stake in shares of Kellanova by 4.2% during the 4th quarter. Financial Advisors Network Inc. now owns 5,040 shares of the company’s stock worth $282,000 after acquiring an additional 204 shares during the last quarter. 83.87% of the stock is currently owned by hedge funds and other 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.