Kellanova (NYSE:K) PT Lowered to $60.00

Kellanova (NYSE:K) had its price objective lowered by Deutsche Bank Aktiengesellschaft from $62.00 to $60.00 in a report released on Tuesday, Benzinga reports. The firm currently has a hold rating on the stock.

Several other analysts also recently commented on the company. JPMorgan Chase & Co. raised their target price on Kellanova from $59.00 to $66.00 and gave the company a neutral rating in a research note on Friday, May 3rd. TD Cowen raised their target price on Kellanova from $57.00 to $62.00 and gave the company a hold rating in a research note on Friday, May 3rd. Bank of America reduced their target price on Kellanova from $64.00 to $62.00 and set a neutral rating for the company in a research note on Wednesday, July 10th. Barclays dropped their price target on shares of Kellanova from $64.00 to $61.00 and set an equal weight rating on the stock in a research report on Friday, July 19th. Finally, DA Davidson raised their price target on shares of Kellanova from $67.00 to $72.00 and gave the company a buy rating in a research report on Thursday, May 9th. 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 company presently has a consensus rating of Hold and an average price target of $61.50.

Kellanova Stock Performance

NYSE K opened at $57.47 on Tuesday. The company has a market capitalization of $19.65 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 2.08 and a beta of 0.34. Kellanova has a twelve month low of $47.63 and a twelve month high of $67.81. The stock has a fifty day simple moving average of $58.46 and a 200 day simple moving average of $57.09. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share 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 the consensus estimate of $3.16 billion. During the same period last year, the business posted $1.10 EPS. The business’s revenue was down 4.2% compared to the same quarter last year. Sell-side analysts expect that Kellanova will post 3.61 EPS for the current year.

Kellanova Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.97%. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s payout ratio is currently 83.90%.

Insider Activity at Kellanova

In related news, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction that occurred on Monday, May 6th. The shares were 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 directly owns 26,191 shares in the company, valued at approximately $1,572,769.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $60.92, for a total transaction of $4,739,576.00. Following the completion of the transaction, the insider now directly owns 51,764,438 shares in the company, valued at approximately $3,153,489,562.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nicolas Amaya sold 9,800 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the transaction, the senior vice president now owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 865,600 shares of company stock worth $50,897,082. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Kellanova during the 4th quarter worth $150,184,000. Vanguard Group Inc. lifted its holdings in shares of Kellanova by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock worth $1,797,525,000 after acquiring an additional 1,130,582 shares during the last quarter. Anchor Capital Advisors LLC bought a new stake in shares of Kellanova during the 4th quarter worth $38,939,000. Boston Partners lifted its holdings in shares of Kellanova by 117.1% during the 1st quarter. Boston Partners now owns 1,278,079 shares of the company’s stock worth $73,221,000 after acquiring an additional 689,395 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. lifted its holdings in shares of Kellanova by 15.5% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock worth $273,504,000 after acquiring an additional 655,686 shares during the last quarter. 83.87% of the stock is currently owned by hedge funds and other 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.