StockNews.com assumed coverage on shares of Kellanova (NYSE:K - Free Report) in a research report released on Wednesday. The brokerage issued a hold rating on the stock.
A number of other equities analysts have also weighed in on the stock. Argus lowered shares of Kellanova from a "buy" rating to a "hold" rating in a report on Wednesday, October 2nd. BNP Paribas downgraded shares of Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price objective for the company. in a research report on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Kellanova currently has an average rating of "Hold" and an average target price of $76.35.
Check Out Our Latest Stock Report on K
Kellanova Stock Performance
NYSE K traded down $0.19 during trading hours on Wednesday, hitting $81.24. 3,116,422 shares of the stock were exchanged, compared to its average volume of 2,167,447. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.58. The company has a market cap of $28.00 billion, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 2.59 and a beta of 0.37. The stock has a 50-day moving average of $80.92 and a 200 day moving average of $76.17.
Kellanova (NYSE:K - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. The company 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%. The firm's revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 earnings per share. As a group, equities research analysts forecast that Kellanova will post 3.74 earnings per share for the current year.
Kellanova Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Monday, December 2nd. Kellanova's payout ratio is 78.35%.
Insider Transactions at Kellanova
In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $81.42, for a total transaction of $9,329,347.86. Following the completion of the transaction, the insider now owns 48,534,944 shares in the company, valued at approximately $3,951,715,140.48. The trade was a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 1,031,247 shares of company stock worth $83,509,236. Insiders own 1.80% of the company's stock.
Hedge Funds Weigh In On Kellanova
Several hedge funds have recently modified their holdings of K. J2 Capital Management Inc acquired a new stake in Kellanova during the fourth quarter valued at approximately $574,000. Aaron Wealth Advisors LLC lifted its position in shares of Kellanova by 2.7% during the 4th quarter. Aaron Wealth Advisors LLC now owns 7,413 shares of the company's stock valued at $600,000 after acquiring an additional 194 shares during the last quarter. HB Wealth Management LLC lifted its position in shares of Kellanova by 13.1% during the 4th quarter. HB Wealth Management LLC now owns 6,743 shares of the company's stock valued at $546,000 after acquiring an additional 782 shares during the last quarter. Brooklyn Investment Group boosted its stake in shares of Kellanova by 26.6% during the 4th quarter. Brooklyn Investment Group now owns 1,677 shares of the company's stock worth $136,000 after acquiring an additional 352 shares in the last quarter. Finally, Merit Financial Group LLC grew its holdings in shares of Kellanova by 29.8% in the 4th quarter. Merit Financial Group LLC now owns 4,952 shares of the company's stock worth $401,000 after acquiring an additional 1,138 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.
Kellanova Company Profile
(
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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.
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