Kellanova (NYSE:K) Receives $76.35 Consensus Target Price from Brokerages

Shares of Kellanova (NYSE:K) have received an average recommendation of “Hold” from the fifteen research firms that are currently covering the stock, MarketBeat Ratings reports. Fourteen investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $76.35.

A number of equities analysts have issued reports on K shares. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a research report on Friday, November 1st. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com assumed coverage on Kellanova in a research report on Monday, December 30th. They set a “hold” rating for the company.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $80.85, for a total value of $9,264,035.55. Following the transaction, the insider now directly owns 48,764,110 shares of the company’s stock, valued at $3,942,578,293.50. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold a total of 1,031,247 shares of company stock valued at $83,337,362 over the last quarter. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. State Street Corp raised its position in Kellanova by 5.2% in the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after purchasing an additional 731,273 shares during the period. Geode Capital Management LLC boosted its holdings in Kellanova by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock worth $541,052,000 after acquiring an additional 196,564 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Kellanova by 11.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock worth $150,909,000 after acquiring an additional 277,171 shares during the period. Yacktman Asset Management LP boosted its holdings in Kellanova by 0.5% in the 2nd quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock worth $123,546,000 after acquiring an additional 10,510 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of Kellanova by 766.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock valued at $108,532,000 after purchasing an additional 1,664,461 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

NYSE K opened at $81.21 on Friday. The business has a 50 day moving average price of $80.81 and a 200 day moving average price of $74.78. The company has a market capitalization of $27.99 billion, a P/E ratio of 27.91, a PEG ratio of 2.59 and a beta of 0.38. Kellanova has a 1-year low of $52.46 and a 1-year high of $81.34. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter last year, the business posted $1.03 earnings per share. The business’s revenue for the quarter was down .7% on a year-over-year basis. Sell-side analysts expect that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were issued a $0.57 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. Kellanova’s payout ratio is 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.