Piper Sandler Increases Kellanova (NYSE:K) Price Target to $83.50

Kellanova (NYSE:K) had its price target increased by Piper Sandler from $63.00 to $83.50 in a report published on Thursday, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

A number of other research analysts have also weighed in on the stock. BNP Paribas upgraded shares of Kellanova from a neutral rating to an outperform rating and set a $74.00 price objective for the company in a research note on Monday, August 5th. Barclays lifted their price objective on shares of Kellanova from $67.00 to $83.00 and gave the company an equal weight rating in a research note on Thursday. The Goldman Sachs Group began coverage on shares of Kellanova in a research report on Monday, August 12th. They set a neutral rating and a $75.00 price target for the company. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Kellanova from $60.00 to $62.00 and gave the company a hold rating in a research report on Friday, August 2nd. Finally, Bank of America upgraded shares of Kellanova from a neutral rating to a buy rating and boosted their price target for the company from $62.00 to $70.00 in a research report on Friday, August 2nd. Thirteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $73.57.

Kellanova Stock Up 0.0 %

Kellanova stock opened at $80.29 on Thursday. Kellanova has a 1-year low of $47.63 and a 1-year high of $80.46. The firm has a market capitalization of $27.45 billion, a price-to-earnings ratio of 30.07, a P/E/G ratio of 2.22 and a beta of 0.34. The company has a current ratio of 0.73, a quick ratio of 0.41 and a debt-to-equity ratio of 1.46. The firm has a 50 day simple moving average of $61.42 and a 200 day simple moving average of $58.77.

Kellanova (NYSE:K) last released 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. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the business earned $1.25 EPS. Kellanova’s revenue was down 4.7% compared to the same quarter last year. On average, analysts predict that Kellanova will post 3.68 earnings per share for the current year.

Kellanova Increases Dividend

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

Insider Transactions 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 28th. The shares were sold at an average price of $60.16, for a total value of $4,680,448.00. Following the completion of the sale, the insider now directly owns 51,531,038 shares of the company’s stock, valued at $3,100,107,246.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 855,800 shares of company stock valued at $52,647,260. Insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

Hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares during the last quarter. Bfsg LLC boosted its holdings in shares of Kellanova by 64.5% during the first quarter. Bfsg LLC now owns 510 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares during the period. Family Firm Inc. purchased a new stake in shares of Kellanova during the second quarter worth about $29,000. BNP Paribas purchased a new stake in shares of Kellanova during the first quarter worth about $30,000. Finally, Motco boosted its holdings in shares of Kellanova by 757.6% during the fourth quarter. Motco now owns 566 shares of the company’s stock worth $32,000 after purchasing an additional 500 shares during the period. 83.87% of the stock is owned by 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.