Kellanova (NYSE:K) Given Average Rating of “Hold” by Analysts

Shares of Kellanova (NYSE:K) have been assigned a consensus rating of “Hold” from the thirteen analysts that are currently covering the firm, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $62.27.

K has been the subject of several analyst reports. DA Davidson initiated coverage on Kellanova in a research note on Friday, March 1st. They set a “buy” rating and a $67.00 price target for the company. StockNews.com cut Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. increased their price objective on Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Barclays increased their price objective on Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Finally, Wells Fargo & Company increased their price objective on Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th.

Kellanova Stock Up 1.7 %

Kellanova stock opened at $57.58 on Friday. The stock has a market capitalization of $19.68 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 2.16 and a beta of 0.40. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51. The stock has a 50 day moving average of $55.14 and a two-hundred day moving average of $54.22. Kellanova has a twelve month low of $47.63 and a twelve month high of $72.30.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter in the prior year, the business earned $0.94 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. As a group, research analysts expect that Kellanova will post 3.57 earnings per share for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova’s payout ratio is 81.45%.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $54.72, for a total value of $4,257,216.00. Following the sale, the insider now directly owns 52,931,438 shares of the company’s stock, valued at approximately $2,896,408,287.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 933,600 shares of company stock valued at $51,183,842. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

A number of large investors have recently modified their holdings of the company. Moody National Bank Trust Division raised its holdings in shares of Kellanova by 6.6% in the 1st quarter. Moody National Bank Trust Division now owns 5,161 shares of the company’s stock worth $296,000 after purchasing an additional 320 shares during the period. Avondale Wealth Management raised its holdings in shares of Kellanova by 166.7% in the 1st quarter. Avondale Wealth Management now owns 2,000 shares of the company’s stock worth $115,000 after purchasing an additional 1,250 shares during the period. Symmetry Partners LLC raised its holdings in shares of Kellanova by 15.7% in the 1st quarter. Symmetry Partners LLC now owns 5,907 shares of the company’s stock worth $338,000 after purchasing an additional 803 shares during the period. First Financial Bank Trust Division raised its holdings in shares of Kellanova by 7.2% during the 1st quarter. First Financial Bank Trust Division now owns 75,842 shares of the company’s stock valued at $4,345,000 after buying an additional 5,118 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in Kellanova by 14.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 70,981 shares of the company’s stock worth $3,969,000 after acquiring an additional 9,036 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other 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.