Kellanova (K) – Analysts’ Weekly Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of Kellanova (NYSE: K) in the last few weeks:

• 9/9/2024 – Kellanova is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 9/1/2024 – Kellanova is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 8/26/2024 – Kellanova was downgraded by analysts at DA Davidson from a “buy” rating to a “neutral” rating. They now have a $83.50 price target on the stock, up previously from $80.00.
• 8/24/2024 – Kellanova is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 8/15/2024 – Kellanova was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating. They now have a $83.50 price target on the stock, up previously from $76.00.
• 8/15/2024 – Kellanova had its price target raised by analysts at Piper Sandler from $63.00 to $83.50. They now have a “neutral” rating on the stock.
• 8/15/2024 – Kellanova had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $76.00 to $83.50. They now have a “hold” rating on the stock.
• 8/15/2024 – Kellanova had its price target raised by analysts at Wells Fargo & Company from $76.00 to $83.50. They now have an “equal weight” rating on the stock.
• 8/15/2024 – Kellanova had its price target raised by analysts at Barclays PLC from $67.00 to $83.00. They now have an “equal weight” rating on the stock.
• 8/12/2024 – Kellanova is now covered by analysts at The Goldman Sachs Group, Inc.. They set a “neutral” rating and a $75.00 price target on the stock.
• 8/12/2024 – Kellanova had its price target raised by analysts at Stifel Nicolaus from $64.00 to $76.00. They now have a “hold” rating on the stock.
• 8/6/2024 – Kellanova had its price target raised by analysts at Wells Fargo & Company from $62.00 to $76.00. They now have an “equal weight” rating on the stock.
• 8/5/2024 – Kellanova was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating. They now have a $76.00 price target on the stock, up previously from $62.00.
• 8/5/2024 – Kellanova was upgraded by analysts at BNP Paribas from a “neutral” rating to an “outperform” rating. They now have a $74.00 price target on the stock.
• 8/5/2024 – Kellanova had its price target raised by analysts at Barclays PLC from $61.00 to $67.00. They now have an “equal weight” rating on the stock.
• 8/5/2024 – Kellanova had its price target raised by analysts at DA Davidson from $69.00 to $73.00. They now have a “buy” rating on the stock.
• 8/2/2024 – Kellanova had its price target raised by analysts at Royal Bank of Canada from $60.00 to $62.00. They now have a “sector perform” rating on the stock.
• 8/2/2024 – Kellanova had its price target raised by analysts at JPMorgan Chase & Co. from $66.00 to $69.00. They now have a “neutral” rating on the stock.
• 8/2/2024 – Kellanova had its price target raised by analysts at Piper Sandler from $60.00 to $63.00. They now have a “neutral” rating on the stock.
• 8/2/2024 – Kellanova was upgraded by analysts at Evercore ISI to a “hold” rating.
• 8/2/2024 – Kellanova had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $60.00 to $62.00. They now have a “hold” rating on the stock.
• 8/2/2024 – Kellanova was upgraded by analysts at Bank of America Co. from a “neutral” rating to a “buy” rating. They now have a $70.00 price target on the stock, up previously from $62.00.
• 7/23/2024 – Kellanova had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $62.00 to $60.00. They now have a “hold” rating on the stock.
• 7/19/2024 – Kellanova had its price target lowered by analysts at Barclays PLC from $64.00 to $61.00. They now have an “equal weight” rating on the stock.

Kellanova Stock Performance

NYSE:K traded up $0.42 during trading hours on Friday, reaching $80.68. The company had a trading volume of 2,266,848 shares, compared to its average volume of 3,305,563. Kellanova has a 1-year low of $47.63 and a 1-year high of $80.97. The firm has a market cap of $27.62 billion, a PE ratio of 30.22, a price-to-earnings-growth ratio of 2.57 and a beta of 0.39. The business’s 50 day moving average price is $69.49 and its 200-day moving average price is $61.93. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The business’s revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 earnings per share. Research analysts forecast that Kellanova will post 3.7 EPS for the current year.

Kellanova Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd will be issued a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.83%. This is an increase from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s dividend payout ratio is presently 85.39%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the completion of the sale, the insider now directly owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total value of $6,272,236.00. Following the sale, the insider now directly owns 50,597,438 shares of the company’s stock, valued at approximately $4,079,165,451.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the transaction, the insider now directly owns 50,482,855 shares in the company, valued at $4,051,249,113.75. The disclosure for this sale can be found here. Insiders have sold 892,583 shares of company stock worth $60,355,010 in the last quarter. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Kellanova

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Kellanova by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock worth $1,797,525,000 after purchasing an additional 1,130,582 shares during the period. Beutel Goodman & Co Ltd. boosted its stake 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 acquiring an additional 655,686 shares in the last quarter. Norges Bank bought a new stake in Kellanova during the 4th quarter valued at approximately $150,184,000. Dimensional Fund Advisors LP boosted its stake in Kellanova by 11.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock valued at $150,909,000 after purchasing an additional 277,171 shares during the period. Finally, Yacktman Asset Management LP raised its holdings in Kellanova by 0.5% in the 2nd quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock valued at $123,546,000 after acquiring an additional 10,510 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

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.