Shares of Kellanova (NYSE:K - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $81.79 and last traded at $81.78, with a volume of 2647218 shares. The stock had previously closed at $81.56.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the company. BNP Paribas cut Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price objective for the company. in a report on Friday, November 1st. StockNews.com began coverage on Kellanova in a research note on Wednesday, January 15th. They issued a "hold" rating on the stock. Finally, Argus lowered Kellanova from a "buy" rating to a "hold" rating in a report on Wednesday, October 2nd. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $76.35.
Check Out Our Latest Research Report on K
Kellanova Stock Performance
The stock has a 50 day moving average of $80.97 and a 200 day moving average of $76.86. The company has a market capitalization of $28.15 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 2.50 and a beta of 0.37. 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 earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. Kellanova's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 earnings per share. As a group, analysts predict that Kellanova will post 3.75 EPS for the current year.
Kellanova Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were paid a $0.57 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.79%. Kellanova's dividend payout ratio is presently 78.35%.
Insiders Place Their Bets
In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $80.76, for a total value of $9,253,723.08. Following the transaction, the insider now owns 49,680,774 shares of the company's stock, valued at approximately $4,012,219,308.24. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 916,664 shares of company stock worth $74,232,597. Corporate insiders own 1.80% of the company's stock.
Hedge Funds Weigh In On Kellanova
A number of hedge funds and other institutional investors have recently modified their holdings of K. Fifth Third Bancorp boosted its stake in Kellanova by 1.9% in the fourth quarter. Fifth Third Bancorp now owns 18,060 shares of the company's stock valued at $1,462,000 after acquiring an additional 340 shares during the last quarter. McGlone Suttner Wealth Management Inc. lifted its stake in Kellanova by 7.5% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 2,862 shares of the company's stock valued at $232,000 after purchasing an additional 199 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Kellanova by 1.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 23,486 shares of the company's stock valued at $1,902,000 after purchasing an additional 367 shares during the period. Advisory Alpha LLC raised its stake in shares of Kellanova by 14.9% in the fourth quarter. Advisory Alpha LLC now owns 3,222 shares of the company's stock valued at $261,000 after buying an additional 417 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in shares of Kellanova by 7.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 29,794 shares of the company's stock valued at $2,412,000 after buying an additional 2,030 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.
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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