Kellanova (NYSE:K) PT Raised to $83.50

Kellanova (NYSE:K) had its price objective boosted by Deutsche Bank Aktiengesellschaft from $76.00 to $83.50 in a research note issued to investors on Thursday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock.

Several other equities analysts have also recently commented on K. Barclays boosted their target price on shares of Kellanova from $67.00 to $83.00 and gave the company an equal weight rating in a research report on Thursday. Piper Sandler boosted their target price on shares of Kellanova from $63.00 to $83.50 and gave the company a neutral rating in a research report on Thursday. The Goldman Sachs Group started coverage on shares of Kellanova in a research report on Monday, August 12th. They issued a neutral rating and a $75.00 target price for the company. Royal Bank of Canada cut shares of Kellanova from an outperform rating to a sector perform rating and boosted their target price for the company from $76.00 to $83.50 in a research report on Thursday. Finally, Stifel Nicolaus boosted their target price on shares of Kellanova from $64.00 to $76.00 and gave the company a hold rating in a research report on Monday, August 12th. Thirteen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $73.57.

Kellanova Stock Performance

Shares of K opened at $80.29 on Thursday. The firm has a 50-day moving average of $61.42 and a 200-day moving average of $58.77. Kellanova has a one year low of $47.63 and a one year high of $80.46. The company has a market cap of $27.45 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 2.22 and a beta of 0.34. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.41.

Kellanova (NYSE:K) last posted its earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. Kellanova’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.25 EPS. As a group, equities analysts forecast that Kellanova will post 3.68 earnings per share for the current year.

Kellanova Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Tuesday, September 3rd. This is an increase from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s payout ratio is presently 85.39%.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the transaction, the insider now owns 50,753,038 shares in the company, valued at $4,062,780,691.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 855,800 shares of company stock worth $52,647,260 in the last quarter. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

Several institutional investors have recently made changes to their positions in K. Vanguard Group Inc. grew its position in Kellanova by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock valued at $1,797,525,000 after buying an additional 1,130,582 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Kellanova by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company’s stock valued at $316,323,000 after acquiring an additional 98,294 shares during the period. Beutel Goodman & Co Ltd. lifted its position in Kellanova by 15.5% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock valued at $273,504,000 after purchasing an additional 655,686 shares during the last quarter. Norges Bank bought a new stake in shares of Kellanova in the 4th quarter worth approximately $150,184,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Kellanova by 11.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock worth $150,909,000 after acquiring an additional 277,171 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

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.