Kellanova (NYSE:K) Receives Consensus Recommendation of “Hold” from Analysts

Kellanova (NYSE:K) has been given an average recommendation of “Hold” by the fourteen analysts that are presently covering the firm, MarketBeat.com reports. Thirteen investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $77.96.

A number of brokerages have recently issued reports on K. StockNews.com began coverage on Kellanova in a report on Sunday. They issued a “hold” rating for the company. Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th.

Kellanova Trading Up 0.1 %

Kellanova stock opened at $82.18 on Tuesday. Kellanova has a 12 month low of $55.01 and a 12 month high of $83.22. The stock has a market cap of $28.37 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. The business has a 50 day moving average price of $82.33 and a two-hundred day moving average price of $81.46. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping 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%. As a group, equities analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

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

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $81.42, for a total value of $9,329,347.86. Following the transaction, the insider now owns 48,534,944 shares in the company, valued at $3,951,715,140.48. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders sold 1,260,413 shares of company stock valued at $103,558,970. Insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its position in shares of Kellanova by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company’s stock worth $1,870,000 after buying an additional 130 shares during the period. Quent Capital LLC lifted its holdings in Kellanova by 20.2% in the fourth quarter. Quent Capital LLC now owns 833 shares of the company’s stock valued at $67,000 after buying an additional 140 shares during the period. Sanctuary Advisors LLC boosted its stake in Kellanova by 1.7% in the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock valued at $690,000 after acquiring an additional 145 shares during the last quarter. OneAscent Financial Services LLC grew its holdings in Kellanova by 4.7% during the 4th quarter. OneAscent Financial Services LLC now owns 3,315 shares of the company’s stock worth $268,000 after acquiring an additional 149 shares during the period. Finally, SPC Financial Inc. raised its position in shares of Kellanova by 5.7% during the 4th quarter. SPC Financial Inc. now owns 2,976 shares of the company’s stock valued at $241,000 after acquiring an additional 160 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.