Kellanova (NYSE:K) Receives $77.96 Average Price Target from Brokerages

Shares of Kellanova (NYSE:K) have been assigned a consensus recommendation of “Hold” from the fourteen analysts that are currently covering the company, MarketBeat Ratings reports. Twelve research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $77.96.

A number of research analysts have recently issued reports on K shares. Royal Bank of Canada raised 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. StockNews.com began coverage on Kellanova in a report on Sunday, February 16th. They set a “hold” rating on the stock. Finally, BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research report on Friday, November 1st.

Kellanova Stock Up 0.2 %

Shares of NYSE K opened at $82.63 on Monday. The company’s 50 day moving average price is $81.51 and its 200-day moving average price is $80.64. 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 52-week low of $52.46 and a 52-week high of $82.72. The company has a market capitalization of $28.48 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating 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%. Equities analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.76%. Kellanova’s dividend payout ratio (DPR) is presently 58.91%.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $80.70, for a total transaction of $9,246,848.10. Following the completion of the sale, the insider now owns 49,107,859 shares in the company, valued at approximately $3,963,004,221.30. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 1,145,830 shares of company stock worth $93,291,187. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Large investors have recently bought and sold shares of the stock. Toronto Dominion Bank boosted its stake in shares of Kellanova by 5.1% in the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after buying an additional 8,686 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Kellanova by 6.9% during the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after acquiring an additional 24,067 shares during the period. Wedmont Private Capital purchased a new position in Kellanova in the fourth quarter worth $384,000. Barclays PLC grew its stake in Kellanova by 134.7% in the 3rd 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 during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Kellanova during the 3rd quarter valued at $4,211,000. 83.87% of the stock is currently owned by institutional investors.

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.