Kellanova (NYSE:K) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Kellanova (NYSE:K - Free Report) in a research note released on Tuesday morning. The firm issued a hold rating on the stock.

Separately, Royal Bank of Canada raised shares of Kellanova from a "sector perform" rating to an "outperform" rating and set a $83.50 target price on the stock in a report on Tuesday, February 18th. Thirteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $77.96.

Kellanova Stock Performance

Shares of NYSE K traded up $0.01 during trading hours on Tuesday, reaching $82.37. The stock had a trading volume of 2,948,273 shares, compared to its average volume of 2,420,868. The company has a market cap of $28.43 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 4.21 and a beta of 0.37. Kellanova has a twelve month low of $52.46 and a twelve month high of $83.22. The business's fifty day moving average is $81.87 and its two-hundred day moving average is $81.10. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. As a group, research analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be paid a $0.57 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova's dividend payout ratio (DPR) is currently 58.91%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $82.70, for a total value of $9,476,014.10. Following the transaction, the insider now directly owns 47,847,446 shares of the company's stock, valued at approximately $3,956,983,784.20. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 1,145,830 shares of company stock worth $93,461,916 over the last 90 days. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in K. Stonebridge Financial Group LLC acquired a new stake in shares of Kellanova in the 4th quarter valued at approximately $27,000. BankPlus Trust Department acquired a new stake in Kellanova in the fourth quarter worth $28,000. Rialto Wealth Management LLC bought a new position in shares of Kellanova during the fourth quarter worth $32,000. Flagship Wealth Advisors LLC acquired a new position in shares of Kellanova in the 4th quarter valued at $32,000. Finally, First Horizon Advisors Inc. increased its position in shares of Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock valued at $36,000 after buying an additional 173 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

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.