Kellanova (NYSE:K) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Kellanova (NYSE:K) in a report published on Wednesday. The firm issued a hold rating on the stock.

Separately, Royal Bank of Canada upgraded shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective on the stock in a research note on Tuesday, February 18th. Thirteen analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $77.96.

Kellanova Price Performance

Shares of NYSE:K opened at $82.29 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The firm has a market capitalization of $28.41 billion, a P/E ratio of 21.26, a P/E/G ratio of 4.21 and a beta of 0.31. Kellanova has a 12 month low of $52.46 and a 12 month high of $83.22. The company’s fifty day moving average price is $82.00 and its 200 day moving average price is $81.17.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. As a group, sell-side analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Monday, March 3rd. Kellanova’s dividend payout ratio is currently 58.91%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.85, for a total value of $9,264,035.55. Following the sale, the insider now owns 48,764,110 shares of the company’s stock, valued at $3,942,578,293.50. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 1,145,830 shares of company stock valued at $93,673,894. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

Institutional investors and hedge funds have recently modified their holdings of the business. Siemens Fonds Invest GmbH raised its position in shares of Kellanova by 257.5% in the fourth quarter. Siemens Fonds Invest GmbH now owns 33,532 shares of the company’s stock valued at $2,715,000 after buying an additional 24,153 shares during the last quarter. Menard Financial Group LLC acquired a new position in shares of Kellanova in the fourth quarter valued at approximately $73,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Kellanova in the fourth quarter valued at approximately $15,138,000. Mackenzie Financial Corp raised its position in shares of Kellanova by 8.1% in the fourth quarter. Mackenzie Financial Corp now owns 23,343 shares of the company’s stock valued at $1,890,000 after buying an additional 1,755 shares during the last quarter. Finally, BCK Capital Management LP raised its position in shares of Kellanova by 101.6% in the fourth quarter. BCK Capital Management LP now owns 168,610 shares of the company’s stock valued at $13,652,000 after buying an additional 84,970 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

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.