Analysts Set Kellanova (NYSE:K) Price Target at $76.35

Kellanova (NYSE:K) has been assigned a consensus recommendation of “Hold” from the fifteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Fourteen analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $76.35.

Several research firms recently weighed in on K. Royal Bank of Canada lowered shares of Kellanova from an “outperform” rating to a “sector perform” rating and increased their price target for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus upped their price objective on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, August 12th. DA Davidson lowered Kellanova from a “buy” rating to a “neutral” rating and increased their price objective for the company from $80.00 to $83.50 in a report on Monday, August 26th. Finally, The Goldman Sachs Group began coverage on Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 price target on the stock.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $81.21, for a total value of $9,305,285.43. Following the transaction, the insider now directly owns 49,222,442 shares in the company, valued at $3,997,354,514.82. This represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 1,031,247 shares of company stock valued at $83,321,320 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of K. Blue Trust Inc. raised its position in Kellanova by 57.2% during the second 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. Family Firm Inc. purchased a new position in shares of Kellanova during the 2nd quarter valued at about $29,000. CVA Family Office LLC lifted its position in Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after buying an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its stake in Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after buying an additional 200 shares in the last quarter. Finally, MCF Advisors LLC boosted its stake in Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

K stock opened at $80.74 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm has a market cap of $27.83 billion, a PE ratio of 27.75, a P/E/G ratio of 2.58 and a beta of 0.38. The business has a 50 day moving average of $80.82 and a 200-day moving average of $72.04. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.34.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share 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 business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The business’s revenue was down .7% on a year-over-year basis. As a group, sell-side analysts expect that Kellanova will post 3.75 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.82%. Kellanova’s dividend payout ratio is currently 78.35%.

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.