Kellanova (NYSE:K) Price Target Raised to $76.00 at Stifel Nicolaus

Kellanova (NYSE:K) had its price objective upped by Stifel Nicolaus from $64.00 to $76.00 in a report issued on Monday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other equities analysts have also recently commented on the stock. Barclays lifted their target price on shares of Kellanova from $61.00 to $67.00 and gave the stock an equal weight rating in a research report on Monday, August 5th. JPMorgan Chase & Co. lifted their target price on shares of Kellanova from $66.00 to $69.00 and gave the stock a neutral rating in a research report on Friday, August 2nd. Piper Sandler lifted their target price on shares of Kellanova from $60.00 to $63.00 and gave the stock a neutral rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted their target price on shares of Kellanova from $62.00 to $76.00 and gave the stock an equal weight rating in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada raised shares of Kellanova from a sector perform rating to an outperform rating and lifted their target price for the stock from $62.00 to $76.00 in a research report on Monday, August 5th. Thirteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Kellanova presently has a consensus rating of Hold and a consensus price target of $73.57.

Kellanova Price Performance

K stock opened at $80.28 on Monday. The company has a market capitalization of $27.45 billion, a P/E ratio of 30.07, a price-to-earnings-growth ratio of 2.22 and a beta of 0.34. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.41 and a current ratio of 0.73. Kellanova has a 52-week low of $47.63 and a 52-week high of $80.46. The business has a 50-day simple moving average of $61.01 and a two-hundred day simple moving average of $58.54.

Kellanova (NYSE:K) 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. Research analysts expect that Kellanova will post 3.68 EPS for the current fiscal year.

Kellanova Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.57 per share. This is a boost from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.84%. Kellanova’s payout ratio is presently 85.39%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $62.01, for a total transaction of $4,824,378.00. Following the sale, the insider now owns 51,608,838 shares of the company’s stock, valued at approximately $3,200,264,044.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 855,800 shares of company stock valued at $52,647,260 in the last 90 days. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kellanova

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. grew its position in shares of Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after purchasing an additional 170 shares in the last quarter. Bfsg LLC grew its position in shares of Kellanova by 64.5% during the 1st quarter. Bfsg LLC now owns 510 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. Family Firm Inc. purchased a new position in shares of Kellanova during the 2nd quarter valued at $29,000. BNP Paribas purchased a new position in shares of Kellanova during the 1st quarter valued at $30,000. Finally, Motco grew its position in shares of Kellanova by 757.6% during the 4th quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after purchasing an additional 500 shares in the last quarter. Institutional investors 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.