StockNews.com assumed coverage on shares of Kellanova (NYSE:K - Free Report) in a research report report published on Thursday morning. The brokerage issued a hold rating on the stock.
A number of other equities analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock a "hold" rating in a research note on Thursday, August 15th. Piper Sandler lifted their price target on Kellanova from $63.00 to $83.50 and gave the company a "neutral" rating in a research note on Thursday, August 15th. Wells Fargo & Company increased their price objective on shares of Kellanova from $76.00 to $83.50 and gave the company an "equal weight" rating in a report on Thursday, August 15th. The Goldman Sachs Group started coverage on Kellanova in a research note on Monday, August 12th. They issued a "neutral" rating and a $75.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their target price on Kellanova from $66.00 to $69.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $76.35.
Check Out Our Latest Stock Analysis on Kellanova
Kellanova Stock Up 0.0 %
NYSE:K traded up $0.02 on Thursday, reaching $81.15. 1,292,768 shares of the stock traded hands, compared to its average volume of 3,001,511. Kellanova has a 12 month low of $51.02 and a 12 month high of $81.34. The company has a market capitalization of $27.97 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 2.61 and a beta of 0.39. The company's fifty day simple moving average is $80.80 and its 200 day simple moving average is $71.12. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34.
Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the business posted $1.03 EPS. Kellanova's revenue was down .7% on a year-over-year basis. Equities analysts predict that Kellanova will post 3.74 EPS for the current fiscal year.
Kellanova Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Monday, December 2nd. Kellanova's dividend payout ratio (DPR) is 78.35%.
Insider Activity
In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the sale, the insider now directly owns 50,482,855 shares in the company, valued at $4,051,249,113.75. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 1,031,247 shares of company stock valued at $83,211,320. 1.80% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Peapack Gladstone Financial Corp grew its position in Kellanova by 0.6% in the third quarter. Peapack Gladstone Financial Corp now owns 81,629 shares of the company's stock worth $6,587,000 after buying an additional 507 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Kellanova during the 3rd quarter worth $210,000. Sanctuary Advisors LLC grew its holdings in shares of Kellanova by 1.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company's stock worth $690,000 after acquiring an additional 145 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Kellanova during the third quarter worth $374,000. Finally, Bard Financial Services Inc. purchased a new stake in shares of Kellanova during the third quarter valued at $272,000. 83.87% of the stock is owned by institutional investors and hedge funds.
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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