Shares of Kellanova (NYSE:K - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $81.35 and last traded at $81.31, with a volume of 1196101 shares traded. The stock had previously closed at $81.22.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on K shares. StockNews.com initiated coverage on Kellanova in a research note on Tuesday. They set a "hold" rating for the company. BNP Paribas lowered Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 target price on the stock. in a report on Friday, November 1st. Finally, Argus downgraded Kellanova from a "buy" rating to a "hold" rating in a report on Wednesday, October 2nd. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $76.35.
Get Our Latest Report on Kellanova
Kellanova Price Performance
The firm has a market capitalization of $28.04 billion, a P/E ratio of 27.95, a PEG ratio of 2.59 and a beta of 0.37. The business's 50-day simple moving average is $80.84 and its 200 day simple moving average is $75.33. 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 (NYSE:K - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm had revenue of $3.23 billion for the quarter, compared to analysts' expectations of $3.16 billion. During the same quarter in the previous year, the company earned $1.03 earnings per share. The company's revenue for the quarter was down .7% compared to the same quarter last year. Sell-side analysts forecast that Kellanova will post 3.74 earnings per share for the current year.
Kellanova Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.57 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.80%. Kellanova's payout ratio is presently 78.35%.
Insider Buying and Selling
In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $80.63, for a total value of $9,238,827.29. Following the transaction, the insider now owns 49,909,940 shares of the company's stock, valued at approximately $4,024,238,462.20. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 1,031,247 shares of company stock worth $83,418,716 in the last quarter. Corporate insiders own 1.80% of the company's stock.
Hedge Funds Weigh In On Kellanova
A number of institutional investors have recently bought and sold shares of K. State Street Corp raised its position in shares of Kellanova by 5.2% during the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company's stock valued at $1,188,489,000 after purchasing an additional 731,273 shares during the period. Geode Capital Management LLC increased its stake in Kellanova by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company's stock worth $541,052,000 after buying an additional 196,564 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Kellanova by 11.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company's stock valued at $150,909,000 after acquiring an additional 277,171 shares during the period. D. E. Shaw & Co. Inc. lifted its position in shares of Kellanova by 766.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company's stock valued at $108,532,000 after acquiring an additional 1,664,461 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company's stock worth $145,309,000 after acquiring an additional 1,033,383 shares during the period. 83.87% of the stock is owned by institutional investors.
About Kellanova
(
Get Free Report)
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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