Kellanova (NYSE:K) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Kellanova (NYSE:K) in a research report sent to investors on Sunday morning. The brokerage issued a hold rating on the stock.

Separately, Royal Bank of Canada downgraded shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Kellanova currently has an average rating of “Hold” and a consensus price target of $77.96.

Kellanova Trading Down 0.2 %

NYSE:K opened at $82.31 on Friday. The stock has a market cap of $28.41 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 4.21 and a beta of 0.34. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The company’s 50 day moving average price is $82.35 and its 200-day moving average price is $81.48. Kellanova has a 52 week low of $55.01 and a 52 week high of $83.22.

Kellanova (NYSE:K) last posted its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. On average, equities research analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s dividend payout ratio is presently 58.91%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $81.91, for a total transaction of $9,385,493.53. Following the transaction, the insider now directly owns 48,305,778 shares of the company’s stock, valued at $3,956,726,275.98. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 1,260,413 shares of company stock valued at $103,672,407 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in shares of Kellanova by 65.1% during the 3rd quarter. Wellington Management Group LLP now owns 19,847 shares of the company’s stock valued at $1,602,000 after purchasing an additional 7,829 shares during the period. XTX Topco Ltd bought a new stake in Kellanova during the third quarter valued at about $475,000. Barclays PLC lifted its position in shares of Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after acquiring an additional 1,033,383 shares in the last quarter. Coldstream Capital Management Inc. bought a new position in shares of Kellanova in the third quarter worth about $394,000. Finally, Bard Financial Services Inc. purchased a new stake in shares of Kellanova during the third quarter worth about $272,000. 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.