Kellanova (NYSE:K) Receives $79.41 Consensus Price Target from Brokerages

Shares of Kellanova (NYSE:K) have been assigned a consensus recommendation of “Hold” from the thirteen analysts that are currently covering the firm, MarketBeat Ratings reports. Twelve investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $79.41.

K has been the topic of a number of analyst reports. Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. StockNews.com lowered Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $82.23, for a total transaction of $9,422,160.09. Following the completion of the sale, the insider now owns 48,191,195 shares in the company, valued at approximately $3,962,761,964.85. This represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 1,374,996 shares of company stock valued at $113,261,858. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kellanova

Large investors have recently made changes to their positions in the company. Barclays PLC grew its position in Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after purchasing an additional 1,033,383 shares in the last quarter. Virtu Financial LLC acquired a new position in Kellanova in the 3rd quarter worth about $374,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Kellanova during the 3rd quarter worth about $210,000. Retirement Systems of Alabama lifted its holdings in shares of Kellanova by 0.6% during the 3rd quarter. Retirement Systems of Alabama now owns 58,422 shares of the company’s stock valued at $4,715,000 after buying an additional 351 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Kellanova by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after buying an additional 24,067 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Performance

Shares of NYSE:K opened at $82.50 on Friday. The business’s 50-day simple moving average is $82.39 and its 200 day simple moving average is $81.70. The company has a market cap of $28.48 billion, a P/E ratio of 21.32, a PEG ratio of 4.21 and a beta of 0.30. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a one year low of $55.96 and a one year high of $83.22.

Kellanova (NYSE:K) last posted its earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 earnings per share. On average, sell-side analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.76%. Kellanova’s payout ratio is 57.58%.

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.