Kellanova (NYSE:K) SVP Nicolas Amaya Sells 9,800 Shares of Stock

Kellanova (NYSE:K) SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $60.05, for a total value of $588,490.00. Following the completion of the transaction, the senior vice president now owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Kellanova Price Performance

Shares of Kellanova stock opened at $61.64 on Wednesday. Kellanova has a 52 week low of $47.63 and a 52 week 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 stock has a market cap of $21.07 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 2.32 and a beta of 0.39. The company’s 50-day moving average price is $56.42 and its two-hundred day moving average price is $54.80.

Kellanova (NYSE:K) last released its earnings results 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 net margin of 6.41% and a return on equity of 37.07%. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the firm earned $1.10 EPS. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Kellanova will post 3.58 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.63%. Kellanova’s dividend payout ratio (DPR) is presently 83.90%.

Analyst Upgrades and Downgrades

A number of research firms have commented on K. DA Davidson started coverage on shares of Kellanova in a report on Friday, March 1st. They issued a “buy” rating and a $67.00 price objective for the company. StockNews.com lowered shares of Kellanova from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Barclays increased their price objective on shares of Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Monday. Piper Sandler lifted their price objective on shares of Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Finally, JPMorgan Chase & Co. raised their price target on Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $61.46.

Hedge Funds Weigh In On Kellanova

A number of hedge funds have recently modified their holdings of K. Sei Investments Co. boosted its holdings in shares of Kellanova by 2.6% in the first quarter. Sei Investments Co. now owns 79,195 shares of the company’s stock worth $4,537,000 after buying an additional 1,984 shares during the period. Significant Wealth Partners LLC boosted its stake in Kellanova by 170.0% in the 1st quarter. Significant Wealth Partners LLC now owns 16,821 shares of the company’s stock worth $964,000 after purchasing an additional 10,592 shares during the period. Forsta AP Fonden grew its position in Kellanova by 1.2% during the 1st quarter. Forsta AP Fonden now owns 171,000 shares of the company’s stock worth $9,797,000 after purchasing an additional 2,100 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Kellanova during the 1st quarter valued at $3,137,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Kellanova by 29.9% in the first quarter. SG Americas Securities LLC now owns 43,581 shares of the company’s stock valued at $2,497,000 after purchasing an additional 10,022 shares in 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.