Brokerages Set Kellanova (NYSE:K) Price Target at $61.85

Shares of Kellanova (NYSE:KGet Free Report) have been given a consensus rating of “Hold” by the thirteen analysts that are presently covering the firm, Marketbeat.com reports. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $61.85.

Several research firms have recently weighed in on K. Barclays raised their price target on shares of Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Monday, May 6th. DA Davidson raised their price target on shares of Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. raised their price target on shares of Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Finally, TD Cowen raised their price target on shares of Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd.

View Our Latest Research Report on Kellanova

Kellanova Stock Performance

K opened at $58.80 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34. The company has a market cap of $20.10 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 2.04 and a beta of 0.35. Kellanova has a 52-week low of $47.63 and a 52-week high of $68.69. The firm’s fifty day simple moving average is $59.44 and its two-hundred day simple moving average is $56.64.

Kellanova (NYSE:KGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same period last year, the firm posted $1.10 earnings per share. Equities analysts anticipate that Kellanova will post 3.62 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date was Monday, June 3rd. Kellanova’s dividend payout ratio is presently 83.90%.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $57.34, for a total value of $4,461,052.00. Following the completion of the transaction, the insider now owns 52,153,438 shares in the company, valued at $2,990,478,134.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $57.34, for a total value of $4,461,052.00. Following the completion of the transaction, the insider now owns 52,153,438 shares in the company, valued at $2,990,478,134.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the transaction, the senior vice president now owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The disclosure for this sale can be found here. Insiders sold a total of 865,600 shares of company stock worth $50,754,708 over the last three months. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Kellanova by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock worth $1,797,525,000 after acquiring an additional 1,130,582 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Kellanova by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company’s stock worth $316,323,000 after buying an additional 98,294 shares during the last quarter. Invesco Ltd. lifted its position in shares of 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 buying an additional 1,132,485 shares during the last quarter. Beutel Goodman & Co Ltd. lifted its position in shares of Kellanova by 15.5% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock worth $273,504,000 after buying an additional 655,686 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Kellanova by 8.7% during the 3rd quarter. Northern Trust Corp now owns 4,116,944 shares of the company’s stock worth $244,999,000 after buying an additional 328,658 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Kellanova (NYSE:K)

Receive News & Ratings for Kellanova Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellanova and related companies with MarketBeat.com's FREE daily email newsletter.