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

StockNews.com assumed coverage on shares of Kellanova (NYSE:K - Free Report) in a report released on Saturday. The brokerage issued a hold rating on the stock.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. raised their price target on Kellanova from $66.00 to $69.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. Stifel Nicolaus lifted their target price on Kellanova from $64.00 to $76.00 and gave the stock a "hold" rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft lifted their target price on Kellanova from $76.00 to $83.50 and gave the stock a "hold" rating in a report on Thursday, August 15th. BNP Paribas raised Kellanova from a "neutral" rating to an "outperform" rating and set a $74.00 target price for the company in a report on Monday, August 5th. Finally, Wells Fargo & Company lifted their target price on Kellanova from $76.00 to $83.50 and gave the stock an "equal weight" rating in a report on Thursday, August 15th. Fifteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $74.32.

Kellanova Price Performance

Shares of K stock opened at $81.05 on Friday. Kellanova has a 1-year low of $49.28 and a 1-year high of $81.21. The stock's 50-day moving average is $80.19 and its 200 day moving average is $66.52. The company has a market cap of $27.71 billion, a P/E ratio of 30.36, a PEG ratio of 2.59 and a beta of 0.39. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.11. The company had revenue of $3.19 billion for 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 firm's revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 earnings per share. Research analysts predict that Kellanova will post 3.7 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. This is a boost from Kellanova's previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, September 3rd. Kellanova's payout ratio is presently 85.39%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business's stock in a transaction on Monday, July 29th. The stock was sold at an average price of $57.23, for a total transaction of $4,452,494.00. Following the transaction, the insider now owns 50,908,638 shares of the company's stock, valued at approximately $2,913,501,352.74. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business's stock in a transaction on Monday, July 29th. The stock was sold at an average price of $57.23, for a total transaction of $4,452,494.00. Following the transaction, the insider now owns 50,908,638 shares of the company's stock, valued at approximately $2,913,501,352.74. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the transaction, the insider now directly owns 50,482,855 shares in the company, valued at $4,051,249,113.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,154,298 shares of company stock worth $88,847,101. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kellanova

Several large investors have recently modified their holdings of K. Blue Trust Inc. raised its holdings in shares of Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company's stock valued at $27,000 after buying an additional 170 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in shares of Kellanova by 1.9% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 9,810 shares of the company's stock valued at $566,000 after buying an additional 180 shares during the period. Aaron Wealth Advisors LLC raised its holdings in shares of Kellanova by 2.6% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 7,219 shares of the company's stock valued at $583,000 after buying an additional 181 shares during the period. IFG Advisory LLC raised its holdings in shares of Kellanova by 1.4% in the 2nd quarter. IFG Advisory LLC now owns 13,825 shares of the company's stock valued at $797,000 after buying an additional 189 shares during the period. Finally, Eukles Asset Management raised its holdings in shares of Kellanova by 0.7% in the 2nd quarter. Eukles Asset Management now owns 26,378 shares of the company's stock valued at $1,521,000 after buying an additional 193 shares during the period. Institutional investors and hedge funds own 83.87% of the company's stock.

About Kellanova

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.