Kellanova (NYSE:K) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Kellanova (NYSE:K) in a research report sent to investors on Tuesday. The firm issued a hold rating on the stock.

Separately, Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price for the company in a research note on Tuesday, February 18th. Thirteen analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $77.96.

Kellanova Stock Up 0.1 %

Shares of NYSE K opened at $82.41 on Tuesday. Kellanova has a 52 week low of $52.46 and a 52 week high of $83.22. The business has a 50-day simple moving average of $81.89 and a two-hundred day simple moving average of $81.11. 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 company has a market cap of $28.45 billion, a P/E ratio of 21.30, a P/E/G ratio of 4.21 and a beta of 0.37.

Kellanova (NYSE:K) last issued its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping 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%. Research analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be given a $0.57 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. Kellanova’s payout ratio is 58.91%.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $82.70, for a total value of $9,476,014.10. Following the completion of the sale, the insider now owns 47,847,446 shares in the company, valued at $3,956,983,784.20. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 1,145,830 shares of company stock worth $93,461,916 in the last quarter. 1.80% of the stock is owned by insiders.

Institutional Trading of Kellanova

A number of hedge funds have recently bought and sold shares of K. Wealth Enhancement Advisory Services LLC increased its stake in Kellanova by 9.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,919 shares of the company’s stock worth $1,204,000 after purchasing an additional 1,249 shares during the period. Forum Financial Management LP purchased a new position in Kellanova in the 3rd quarter worth approximately $263,000. National Pension Service increased its stake in Kellanova by 0.9% in the 3rd quarter. National Pension Service now owns 522,848 shares of the company’s stock worth $42,199,000 after purchasing an additional 4,550 shares during the period. Asset Management One Co. Ltd. increased its stake in Kellanova by 3.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 224,781 shares of the company’s stock worth $18,142,000 after purchasing an additional 7,552 shares during the period. Finally, Impax Asset Management Group plc purchased a new position in Kellanova in the 3rd quarter worth approximately $4,991,000. 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.