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

Kellanova (NYSE:K - Get Free Report) has received a consensus recommendation of "Hold" from the fifteen research firms that are covering the stock, Marketbeat reports. Fourteen investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $76.35.

K has been the subject of several research reports. Argus cut shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Wednesday, October 2nd. StockNews.com assumed coverage on shares of Kellanova in a report on Thursday, November 28th. They set a "hold" rating on the stock. The Goldman Sachs Group initiated coverage on shares of Kellanova in a report on Monday, August 12th. They issued a "neutral" rating and a $75.00 price objective on the stock. Piper Sandler boosted their target price on shares of Kellanova from $63.00 to $83.50 and gave the stock a "neutral" rating in a report on Thursday, August 15th. Finally, Royal Bank of Canada cut shares of Kellanova from an "outperform" rating to a "sector perform" rating and boosted their target price for the company from $76.00 to $83.50 in a research report on Thursday, August 15th.

Kellanova Price Performance

K stock traded down $0.12 on Wednesday, hitting $80.47. 2,040,450 shares of the company's stock traded hands, compared to its average volume of 2,979,985. Kellanova has a 1-year low of $52.46 and a 1-year high of $81.34. The stock has a fifty day moving average of $80.82 and a 200-day moving average of $71.78. 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 stock has a market cap of $27.74 billion, a price-to-earnings ratio of 27.65, a P/E/G ratio of 2.59 and a beta of 0.38.

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

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova's dividend payout ratio (DPR) is currently 78.35%.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the completion of the sale, the insider now directly owns 50,482,855 shares of the company's stock, valued at $4,051,249,113.75. The trade was a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 1,145,830 shares of company stock valued at $92,516,606. 1.80% of the stock is owned by company insiders.

Institutional Trading of Kellanova

A number of hedge funds have recently modified their holdings of the stock. Atria Investments Inc purchased a new position in shares of Kellanova during the first quarter worth $1,003,000. Cetera Investment Advisers lifted its position in shares of Kellanova by 393.2% during the 1st quarter. Cetera Investment Advisers now owns 117,392 shares of the company's stock valued at $6,725,000 after acquiring an additional 93,588 shares during the period. Cetera Advisors LLC lifted its position in shares of Kellanova by 61.5% during the 1st quarter. Cetera Advisors LLC now owns 24,530 shares of the company's stock valued at $1,405,000 after acquiring an additional 9,338 shares during the period. Massmutual Trust Co. FSB ADV raised its position in shares of Kellanova by 67.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 2,067 shares of the company's stock worth $119,000 after purchasing an additional 836 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC raised its position in shares of Kellanova by 16.1% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 5,402 shares of the company's stock worth $312,000 after purchasing an additional 750 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

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.