Kellanova (NYSE:K) Reaches New 12-Month High at $81.00

Shares of Kellanova (NYSE:K - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $81.00 and last traded at $80.90, with a volume of 40829 shares traded. The stock had previously closed at $80.78.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Kellanova in a research report on Monday, August 12th. They set a "neutral" rating and a $75.00 price objective for the company. Barclays boosted their price target on Kellanova from $67.00 to $83.00 and gave the company an "equal weight" rating in a research note on Thursday, August 15th. Piper Sandler increased their price objective on Kellanova from $63.00 to $83.50 and gave the stock a "neutral" rating in a research report on Thursday, August 15th. Bank of America raised Kellanova from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $62.00 to $70.00 in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their price target 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. Fourteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $74.32.

Kellanova Trading Down 0.1 %

The business has a fifty day moving average of $74.69 and a 200-day moving average of $64.00. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. The company has a market capitalization of $27.59 billion, a P/E ratio of 30.25, a PEG ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.11. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The company's quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 EPS. Analysts anticipate that Kellanova will post 3.7 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date was Tuesday, September 3rd. This is an increase from Kellanova's previous quarterly dividend of $0.56. Kellanova's dividend payout ratio is 85.39%.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company's stock in a transaction on Monday, July 15th. The stock was sold at an average price of $56.19, for a total transaction of $4,371,582.00. Following the transaction, the insider now owns 51,064,238 shares of the company's stock, valued at approximately $2,869,299,533.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the sale, the insider now owns 50,368,272 shares of the company's stock, valued at approximately $4,062,201,136.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm's stock in a transaction on Monday, July 15th. The shares were sold at an average price of $56.19, for a total transaction of $4,371,582.00. Following the completion of the transaction, the insider now directly owns 51,064,238 shares of the company's stock, valued at $2,869,299,533.22. The disclosure for this sale can be found here. Insiders sold a total of 966,149 shares of company stock worth $69,866,455 in the last quarter. Insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Kellanova

A number of institutional investors and hedge funds have recently bought and sold shares of K. Vanguard Group Inc. raised its position in Kellanova by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company's stock valued at $1,797,525,000 after purchasing an additional 1,130,582 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Kellanova by 11.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company's stock valued at $150,909,000 after buying an additional 277,171 shares in the last quarter. Yacktman Asset Management LP lifted its position in Kellanova by 0.5% in the 2nd quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company's stock worth $123,546,000 after buying an additional 10,510 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in Kellanova by 766.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company's stock worth $108,532,000 after buying an additional 1,664,461 shares in the last quarter. Finally, Maverick Capital Ltd. purchased a new position in shares of Kellanova during the second quarter worth approximately $88,065,000. 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.