Kellanova (NYSE:K) Reaches New 1-Year High - Here's Why

Kellanova (NYSE:K - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $83.22 and last traded at $82.62, with a volume of 492982 shares changing hands. The stock had previously closed at $82.61.

Analyst Upgrades and Downgrades

K has been the topic of a number of analyst reports. Royal Bank of Canada raised Kellanova from a "sector perform" rating to an "outperform" rating and set a $83.50 price target on the stock in a research report on Tuesday, February 18th. StockNews.com started coverage on Kellanova in a report on Tuesday. They issued a "hold" rating on the stock. Thirteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Kellanova currently has a consensus rating of "Hold" and an average target price of $77.96.

Kellanova Price Performance

The firm has a fifty day moving average of $81.84 and a 200 day moving average of $81.09. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $28.43 billion, a P/E ratio of 21.28, a P/E/G ratio of 4.21 and a beta of 0.37.

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

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.57 per share. 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 payout ratio is 58.91%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the completion of the sale, the insider now directly owns 48,878,693 shares of the company's stock, valued at approximately $3,941,577,803.52. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 1,145,830 shares of company stock valued at $93,461,916 over the last 90 days. Company insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Kellanova

Hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its stake in shares of Kellanova by 9.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,919 shares of the company's stock valued at $1,204,000 after acquiring an additional 1,249 shares during the period. Forum Financial Management LP purchased a new position in Kellanova during the third quarter valued at approximately $263,000. National Pension Service boosted its position in shares of Kellanova by 0.9% in the third quarter. National Pension Service now owns 522,848 shares of the company's stock worth $42,199,000 after purchasing an additional 4,550 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of Kellanova by 3.5% in the third quarter. Asset Management One Co. Ltd. now owns 224,781 shares of the company's stock worth $18,142,000 after purchasing an additional 7,552 shares in the last quarter. Finally, Impax Asset Management Group plc purchased a new stake in shares of Kellanova in the third quarter worth $4,991,000. Institutional investors 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.