Kellanova (NYSE:K) Receives $62.27 Average Price Target from Brokerages

Shares of Kellanova (NYSE:K) have been given an average rating of “Hold” by the thirteen brokerages that are covering the firm, Marketbeat.com reports. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $62.27.

Several equities research analysts have commented on K shares. JPMorgan Chase & Co. upped their price objective on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, February 9th. StockNews.com lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. DA Davidson assumed coverage on Kellanova in a report on Friday, March 1st. They issued a “buy” rating and a $67.00 price target for the company. Piper Sandler boosted their price objective on Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Finally, Stifel Nicolaus lifted their target price on Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, January 25th.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s 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 completion of the transaction, the insider now directly owns 52,698,038 shares in the company, valued at approximately $2,825,668,797.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 933,600 shares of company stock valued at $51,632,748. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

A number of large investors have recently modified their holdings of K. Norges Bank purchased a new stake in Kellanova during the fourth quarter valued at about $150,184,000. Invesco Ltd. grew its position in Kellanova by 29.4% during the 3rd quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock worth $296,971,000 after acquiring an additional 1,132,485 shares during the last quarter. Vanguard Group Inc. increased its stake in Kellanova by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock worth $1,797,525,000 after purchasing an additional 1,130,582 shares during the period. Van ECK Associates Corp lifted its position in Kellanova by 27.4% in the third quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock valued at $291,061,000 after purchasing an additional 1,051,922 shares during the last quarter. Finally, Anchor Capital Advisors LLC purchased a new stake in shares of Kellanova during the fourth quarter valued at approximately $38,939,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Stock Down 0.5 %

Kellanova stock opened at $58.45 on Tuesday. The company has a quick ratio of 0.41, a current ratio of 0.66 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $19.98 billion, a P/E ratio of 21.25, a P/E/G ratio of 2.23 and a beta of 0.40. The firm has a 50 day moving average price of $55.92 and a 200-day moving average price of $54.22. Kellanova has a twelve month low of $47.63 and a twelve month high of $72.30.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.07 billion. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. Kellanova’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.94 earnings per share. As a group, equities analysts predict that Kellanova will post 3.57 EPS for the current year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova’s payout ratio is 81.45%.

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.