Kellanova (NYSE:K) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Kellanova (NYSE:K - Free Report) in a research report report published on Wednesday morning. The brokerage issued a hold rating on the stock.

Several other research analysts have also issued reports on K. Deutsche Bank Aktiengesellschaft upped their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock a "hold" rating in a research report on Thursday, August 15th. Piper Sandler raised their price objective on Kellanova from $63.00 to $83.50 and gave the company a "neutral" rating in a report on Thursday, August 15th. Barclays upped their target price on Kellanova from $67.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 15th. BNP Paribas downgraded shares of Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price target on the stock. in a research note on Friday, November 1st. Finally, The Goldman Sachs Group began coverage on shares of Kellanova in a research note on Monday, August 12th. They issued a "neutral" rating and a $75.00 price objective for the company. Fifteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Kellanova has a consensus rating of "Hold" and a consensus price target of $76.35.

Kellanova Price Performance

NYSE:K traded up $0.22 during mid-day trading on Wednesday, hitting $80.77. 1,383,867 shares of the stock traded hands, compared to its average volume of 3,024,717. The business's 50-day moving average price is $80.73 and its 200 day moving average price is $70.29. 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 $51.02 and a 12-month high of $81.34. The company has a market cap of $27.84 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39.

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

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a $0.57 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.82%. Kellanova's dividend payout ratio is 78.35%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm's stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the completion of the transaction, the insider now directly owns 50,597,438 shares in the company, valued at $4,079,165,451.56. This trade represents a 0.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 994,464 shares of company stock valued at $80,203,479. Corporate insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. CVA Family Office LLC raised its holdings in shares of Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company's stock valued at $29,000 after purchasing an additional 307 shares during the last quarter. MCF Advisors LLC grew its holdings in shares of Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company's stock worth $34,000 after acquiring an additional 137 shares during the period. Blue Trust Inc. increased its position in Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company's stock valued at $27,000 after acquiring an additional 170 shares during the last quarter. Family Firm Inc. bought a new position in Kellanova in the second quarter valued at about $29,000. Finally, Newbridge Financial Services Group Inc. boosted its position in Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company's stock worth $30,000 after purchasing an additional 200 shares during the last quarter. 83.87% of the stock is 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.