Brokerages Set Kellanova (NYSE:K) PT at $77.96

Kellanova (NYSE:K) has been given an average rating of “Hold” by the fourteen brokerages that are presently covering the company, MarketBeat Ratings reports. Twelve equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $77.96.

K has been the subject of several recent analyst reports. Royal Bank of Canada upgraded shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price for the company in a report on Tuesday, February 18th. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Friday, November 1st. Finally, StockNews.com assumed coverage on shares of Kellanova in a research note on Monday. They set a “hold” rating on the stock.

Kellanova Stock Performance

K opened at $82.63 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The firm has a market cap of $28.48 billion, a PE ratio of 21.35, a P/E/G ratio of 4.21 and a beta of 0.37. The business has a fifty day simple moving average of $81.55 and a 200-day simple moving average of $80.76. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $82.72.

Kellanova (NYSE:K) last announced its earnings results on Thursday, February 6th. The company reported $0.92 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%. As a group, equities analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova’s dividend payout ratio is 58.91%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $80.70, for a total transaction of $9,246,848.10. Following the transaction, the insider now owns 49,107,859 shares of the company’s stock, valued at approximately $3,963,004,221.30. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 1,145,830 shares of company stock valued at $93,291,187. Insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

Several large investors have recently added to or reduced their stakes in the business. Stonebridge Financial Group LLC acquired a new position in shares of Kellanova during the 4th quarter valued at about $27,000. BankPlus Trust Department bought a new stake in Kellanova during the fourth quarter worth approximately $28,000. Rialto Wealth Management LLC acquired a new position in Kellanova during the fourth quarter valued at approximately $32,000. Flagship Wealth Advisors LLC bought a new position in shares of Kellanova in the fourth quarter valued at approximately $32,000. Finally, MCF Advisors LLC lifted its stake in shares of Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares during the last quarter. 83.87% of the stock is owned by institutional investors.

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.