Kellanova (NYSE:K) Receives Consensus Recommendation of “Hold” from Brokerages

Kellanova (NYSE:K) has been given a consensus rating of “Hold” by the fourteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Twelve 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 objective among brokers that have issued a report on the stock in the last year is $77.96.

Several brokerages recently weighed in on K. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target for the company in a research note on Tuesday, February 18th. StockNews.com began coverage on Kellanova in a research note on Wednesday, March 12th. They set a “hold” rating for the company.

Kellanova Stock Performance

Shares of K stock opened at $82.36 on Friday. The stock has a market cap of $28.43 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The business has a 50-day simple moving average of $82.09 and a 200-day simple moving average of $81.22. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. Kellanova has a 52-week low of $54.47 and a 52-week high of $83.22.

Kellanova (NYSE:K) last issued its quarterly earnings data 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 return on equity of 37.25% and a net margin of 10.53%. On average, equities analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova’s payout ratio is currently 58.91%.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $82.70, for a total transaction of $9,476,014.10. Following the transaction, the insider now owns 47,847,446 shares of the company’s stock, valued at approximately $3,956,983,784.20. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 1,260,413 shares of company stock valued at $103,099,492 over the last quarter. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Kellanova

Several hedge funds have recently made changes to their positions in K. Independent Advisor Alliance lifted its position in Kellanova by 16.5% in the fourth quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock valued at $583,000 after purchasing an additional 1,019 shares during the period. Toronto Dominion Bank increased its stake in shares of Kellanova by 5.1% during the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after purchasing an additional 8,686 shares in the last quarter. Wedmont Private Capital purchased a new position in shares of Kellanova during the 4th quarter worth approximately $384,000. Barclays PLC increased its stake in shares of 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 purchasing an additional 1,033,383 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Kellanova during the 3rd quarter worth approximately $4,211,000. Institutional investors and hedge funds 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.