Kellanova (NYSE:K) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Kellanova (NYSE:K) in a research note published on Thursday. The firm issued a hold rating on the stock.

Separately, Royal Bank of Canada upgraded 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 report on Tuesday, February 18th. Thirteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.96.

Kellanova Price Performance

Kellanova stock opened at $82.33 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $28.42 billion, a P/E ratio of 21.27, a PEG ratio of 4.21 and a beta of 0.31. The business has a 50-day moving average of $82.12 and a 200-day moving average of $81.24. Kellanova has a 1 year low of $54.70 and a 1 year high of $83.22.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. On average, equities analysts anticipate 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. Stockholders of record on Monday, March 3rd were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova’s dividend payout ratio is currently 58.91%.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 48,764,110 shares of the company’s stock, valued at approximately $3,942,578,293.50. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders sold 1,260,413 shares of company stock worth $103,099,492. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kellanova

A number of large investors have recently modified their holdings of the business. Stonebridge Financial Group LLC acquired a new stake in shares of Kellanova in the 4th quarter valued at approximately $27,000. BankPlus Trust Department acquired a new stake in Kellanova in the fourth quarter valued at $28,000. Rialto Wealth Management LLC acquired a new position in shares of Kellanova during the 4th quarter worth about $32,000. Flagship Wealth Advisors LLC bought a new stake in shares of Kellanova in the 4th quarter valued at about $32,000. Finally, First Horizon Advisors Inc. lifted its stake in Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after purchasing an additional 173 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

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.