Kellanova (NYSE:K) Price Target Raised to $64.00

Kellanova (NYSE:K) had its price target lifted by Barclays from $60.00 to $64.00 in a report issued on Monday, Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts have also issued reports on K. TD Cowen increased their price target on shares of Kellanova from $57.00 to $62.00 and gave the stock a hold rating in a research note on Friday, May 3rd. Citigroup started coverage on Kellanova in a research report on Thursday, February 1st. They set a neutral rating and a $57.00 price objective for the company. Piper Sandler boosted their target price on Kellanova from $59.00 to $60.00 and gave the stock a neutral rating in a report on Monday, February 12th. DA Davidson assumed coverage on Kellanova in a report on Friday, March 1st. They set a buy rating and a $67.00 price target for the company. Finally, StockNews.com cut shares of Kellanova from a buy rating to a hold rating in a research note on Friday, February 9th. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Kellanova currently has a consensus rating of Hold and an average target price of $61.46.

Kellanova Stock Performance

Kellanova stock opened at $62.33 on Monday. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $71.53. The stock’s 50 day simple moving average is $56.42 and its two-hundred day simple moving average is $54.80. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62. The stock has a market cap of $21.31 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 2.32 and a beta of 0.39.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The firm’s revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.10 earnings per share. As a group, analysts expect that Kellanova will post 3.58 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.59%. The ex-dividend date is Monday, June 3rd. Kellanova’s dividend payout ratio is currently 83.90%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $53.62, for a total value of $4,171,636.00. Following the transaction, the insider now owns 52,698,038 shares of the company’s stock, valued at $2,825,668,797.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $53.62, for a total transaction of $4,171,636.00. Following the completion of the sale, the insider now directly owns 52,698,038 shares of the company’s stock, valued at $2,825,668,797.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction on Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the transaction, the senior vice president now owns 26,191 shares in the company, valued at approximately $1,572,769.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,021,200 shares of company stock worth $57,219,110. Insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

A number of hedge funds and other institutional investors have recently bought and sold shares of K. Oakworth Capital Inc. lifted its stake in shares of Kellanova by 491.3% during the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock valued at $28,000 after buying an additional 393 shares in the last quarter. Baker Avenue Asset Management LP lifted its position in shares of Kellanova by 205.4% in the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after acquiring an additional 341 shares in the last quarter. Bfsg LLC boosted its stake in shares of Kellanova by 64.5% in the first quarter. Bfsg LLC now owns 510 shares of the company’s stock worth $29,000 after acquiring an additional 200 shares during the period. BNP Paribas purchased a new stake in shares of Kellanova during the first quarter worth about $30,000. Finally, Motco raised its stake in Kellanova by 757.6% during the 4th quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after purchasing an additional 500 shares during the period. Hedge funds and other 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.