Kellanova (NYSE:K) Receives $77.96 Consensus Target Price from Analysts

Kellanova (NYSE:K) has been given a consensus rating of “Hold” by the fourteen research firms that are covering the company, Marketbeat Ratings reports. Twelve investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $77.96.

K has been the topic of several recent analyst reports. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target on the stock in a research note on Tuesday, February 18th. StockNews.com started coverage on shares of Kellanova in a research note on Thursday. They issued a “hold” rating on the stock.

Kellanova Price Performance

Shares of NYSE:K opened at $82.33 on Friday. Kellanova has a 1-year low of $54.70 and a 1-year high of $83.22. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The business’s 50 day moving average is $82.12 and its 200-day moving average is $81.24. The firm has a market capitalization of $28.42 billion, a PE ratio of 21.27, a PEG ratio of 4.21 and a beta of 0.31.

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

Kellanova Dividend Announcement

The business 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. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova’s dividend payout ratio (DPR) is currently 58.91%.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s 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 owns 48,764,110 shares in the company, valued at $3,942,578,293.50. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 1,260,413 shares of company stock worth $103,099,492 in the last quarter. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in shares of Kellanova in the 4th quarter worth $285,126,000. Franklin Resources Inc. boosted its holdings in Kellanova by 869.5% during the fourth quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company’s stock worth $208,826,000 after buying an additional 2,313,047 shares during the last quarter. FIL Ltd increased its stake in shares of Kellanova by 182.3% in the 4th quarter. FIL Ltd now owns 2,388,000 shares of the company’s stock valued at $193,356,000 after acquiring an additional 1,542,000 shares during the last quarter. Westchester Capital Management LLC acquired a new stake in shares of Kellanova in the 3rd quarter valued at approximately $107,795,000. Finally, Barclays PLC boosted its stake in Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after acquiring an additional 1,033,383 shares during the last quarter. 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.