TD Cowen Boosts Kellanova (NYSE:K) Price Target to $62.00

Kellanova (NYSE:K) had its price objective raised by TD Cowen from $57.00 to $62.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a hold rating on the stock.

A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Kellanova from $53.00 to $59.00 and gave the stock a neutral rating in a research note on Friday, February 9th. Citigroup began coverage on shares of Kellanova in a research report on Thursday, February 1st. They set a neutral rating and a $57.00 price objective for the company. Wells Fargo & Company upped their price objective on Kellanova from $56.00 to $58.00 and gave the company an equal weight rating in a report on Friday, February 9th. DA Davidson began coverage on shares of Kellanova in a research report on Friday, March 1st. They issued a buy rating and a $67.00 price target for the company. Finally, Piper Sandler raised their target price on shares of Kellanova from $59.00 to $60.00 and gave the company a neutral rating in a report on Monday, February 12th. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $61.46.

Kellanova Trading Down 0.8 %

Shares of NYSE K opened at $60.04 on Friday. Kellanova has a 1-year low of $47.63 and a 1-year high of $71.53. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34. The company has a 50-day moving average of $56.30 and a two-hundred day moving average of $54.72. The company has a market cap of $20.53 billion, a PE ratio of 22.49, a P/E/G ratio of 2.32 and a beta of 0.39.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the company earned $1.10 earnings per share. The company’s revenue was down 4.2% on a year-over-year basis. As a group, equities analysts expect that Kellanova will post 3.58 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be paid a dividend of $0.56 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.73%. Kellanova’s dividend payout ratio (DPR) is presently 83.90%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $58.00, for a total transaction of $4,512,400.00. Following the completion of the transaction, the insider now owns 51,842,238 shares in the company, valued at $3,006,849,804. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 933,600 shares of company stock worth $51,891,044. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Kellanova

Hedge funds have recently bought and sold shares of the stock. Oakworth Capital Inc. raised its holdings in Kellanova by 491.3% in the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock valued at $28,000 after acquiring an additional 393 shares in the last quarter. Bfsg LLC increased its position in shares of Kellanova by 64.5% in the first quarter. Bfsg LLC now owns 510 shares of the company’s stock valued at $29,000 after buying an additional 200 shares in the last quarter. Baker Avenue Asset Management LP lifted its stake in Kellanova by 205.4% in the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after buying an additional 341 shares in the last quarter. BNP Paribas acquired a new stake in shares of Kellanova during the 1st quarter worth about $30,000. Finally, Motco lifted its position in Kellanova by 757.6% during the fourth quarter. Motco now owns 566 shares of the company’s stock worth $32,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

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.