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

Kellanova (NYSE:K) has received a consensus recommendation of “Hold” from the fourteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $77.96.

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

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.85, for a total value of $9,264,035.55. Following the completion of the sale, the insider now owns 48,764,110 shares of the company’s stock, valued at approximately $3,942,578,293.50. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 1,260,413 shares of company stock worth $103,099,492 in the last quarter. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kellanova

Several hedge funds and other institutional investors have recently modified their holdings of K. Norges Bank bought a new stake in shares of Kellanova in the 4th quarter worth about $285,126,000. Franklin Resources Inc. grew its position in shares of Kellanova by 869.5% during the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company’s stock valued at $208,826,000 after buying an additional 2,313,047 shares during the last quarter. FIL Ltd grew its position in shares of Kellanova by 182.3% during the 4th quarter. FIL Ltd now owns 2,388,000 shares of the company’s stock valued at $193,356,000 after buying an additional 1,542,000 shares during the last quarter. Westchester Capital Management LLC bought a new stake in shares of Kellanova during the 3rd quarter valued at about $107,795,000. Finally, Barclays PLC grew its position in shares of Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after buying an additional 1,033,383 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Down 0.0 %

K stock opened at $82.36 on Friday. The stock has a market capitalization of $28.43 billion, a P/E ratio of 21.28, a PEG ratio of 4.21 and a beta of 0.31. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a one year low of $54.47 and a one year high of $83.22. The company has a 50 day moving average price of $82.09 and a two-hundred day moving average price of $81.22.

Kellanova (NYSE:K) last announced 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 net margin of 10.53% and a return on equity of 37.25%. As a group, sell-side analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

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

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.