Nicolas Amaya Sells 9,800 Shares of Kellanova (NYSE:K) Stock

Kellanova (NYSE:K) SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction on Monday, May 6th. The shares were sold at an average price of $60.05, for a total value of $588,490.00. Following the completion of the transaction, the senior vice president now owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Kellanova Stock Up 2.7 %

Kellanova stock traded up $1.60 during mid-day trading on Tuesday, reaching $61.64. The company’s stock had a trading volume of 3,601,699 shares, compared to its average volume of 3,256,282. The business’s 50 day simple moving average is $56.30 and its 200 day simple moving average is $54.72. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62. Kellanova has a 12 month low of $47.63 and a 12 month high of $71.53. The company has a market capitalization of $21.07 billion, a price-to-earnings ratio of 22.49, a price-to-earnings-growth ratio of 2.32 and a beta of 0.39.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter last year, the company earned $1.10 EPS. Kellanova’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, research analysts anticipate that Kellanova will post 3.58 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Monday, June 3rd. Kellanova’s payout ratio is presently 83.90%.

Hedge Funds Weigh In On Kellanova

A number of institutional investors have recently added to or reduced their stakes in the company. Oakworth Capital Inc. grew its position in shares of Kellanova by 491.3% in the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock valued at $28,000 after acquiring an additional 393 shares during the period. Bfsg LLC grew its holdings in Kellanova by 64.5% during the first quarter. Bfsg LLC now owns 510 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares during the period. Baker Avenue Asset Management LP increased its position in Kellanova by 205.4% during the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after buying an additional 341 shares during the last quarter. BNP Paribas acquired a new position in Kellanova during the first quarter worth approximately $30,000. Finally, Motco raised its stake in Kellanova by 757.6% in the fourth quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after buying an additional 500 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. TD Cowen lifted their price target on Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a report on Friday. Barclays lifted their price objective on Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday. Stifel Nicolaus upped their target price on shares of Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Piper Sandler lifted their price target on shares of Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Finally, DA Davidson initiated coverage on shares of Kellanova in a report on Friday, March 1st. They issued a “buy” rating and a $67.00 price objective on the stock. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $61.46.

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.