Kellanova (NYSE:K) Receives $76.35 Average Price Target from Brokerages

Shares of Kellanova (NYSE:K - Get Free Report) have been assigned an average rating of "Hold" from the fifteen brokerages that are presently covering the firm, MarketBeat.com reports. Fourteen analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $76.35.

A number of brokerages have commented on K. Royal Bank of Canada downgraded Kellanova from an "outperform" rating to a "sector perform" rating and increased their price target for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. Stifel Nicolaus increased their target price on shares of Kellanova from $64.00 to $76.00 and gave the company a "hold" rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on Kellanova from $76.00 to $83.50 and gave the stock a "hold" rating in a research report on Thursday, August 15th. DA Davidson lowered shares of Kellanova from a "buy" rating to a "neutral" rating and raised their price target for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Finally, Bank of America raised shares of Kellanova from a "neutral" rating to a "buy" rating and upped their price objective for the company from $62.00 to $70.00 in a report on Friday, August 2nd.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $80.76, for a total value of $9,253,723.08. Following the sale, the insider now owns 49,680,774 shares in the company, valued at $4,012,219,308.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the completion of the sale, the insider now owns 50,753,038 shares in the company, valued at $4,062,780,691.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the transaction, the insider now directly owns 49,680,774 shares of the company's stock, valued at approximately $4,012,219,308.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,150,064 shares of company stock valued at $92,680,265. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kellanova

Hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. boosted its stake in Kellanova by 26.2% in the third quarter. Assetmark Inc. now owns 631 shares of the company's stock valued at $51,000 after acquiring an additional 131 shares in the last quarter. MCF Advisors LLC boosted its holdings in Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company's stock worth $34,000 after buying an additional 137 shares in the last quarter. S.A. Mason LLC grew its holdings in shares of Kellanova by 7.6% in the 3rd quarter. S.A. Mason LLC now owns 1,987 shares of the company's stock worth $160,000 after acquiring an additional 140 shares during the period. Capital Advisors Ltd. LLC raised its stake in shares of Kellanova by 41.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company's stock worth $44,000 after buying an additional 158 shares during the last quarter. Finally, Blue Trust Inc. grew its position in shares of Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company's stock valued at $27,000 after purchasing an additional 170 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Stock Performance

K traded up $0.34 on Friday, reaching $81.00. The company had a trading volume of 1,241,579 shares, compared to its average volume of 1,929,965. The stock has a market cap of $27.92 billion, a P/E ratio of 27.84, a P/E/G ratio of 2.60 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. Kellanova has a fifty-two week low of $51.02 and a fifty-two week high of $81.26. The company's fifty day moving average is $80.65 and its 200 day moving average is $69.03.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.06. The company had revenue of $3.23 billion during the quarter, compared to analysts' expectations of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. Kellanova's revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 EPS. As a group, analysts predict that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

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 paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Monday, December 2nd. Kellanova's dividend payout ratio (DPR) is currently 78.35%.

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.