Stifel Nicolaus Boosts Kellanova (NYSE:K) Price Target to $76.00

Kellanova (NYSE:K) had its price target boosted by Stifel Nicolaus from $64.00 to $76.00 in a research note released on Monday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Other equities research analysts also recently issued reports about the company. DA Davidson upped their target price on Kellanova from $69.00 to $73.00 and gave the stock a buy rating in a research report on Monday, August 5th. Bank of America raised Kellanova from a neutral rating to a buy rating and raised their target price for the company from $62.00 to $70.00 in a research note on Friday, August 2nd. The Goldman Sachs Group began coverage on shares of Kellanova in a research report on Monday. They issued a neutral rating and a $75.00 price target on the stock. TD Cowen raised their price objective on shares of Kellanova from $57.00 to $62.00 and gave the company a hold rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada raised shares of Kellanova from a sector perform rating to an outperform rating and lifted their price objective for the stock from $62.00 to $76.00 in a research note on Monday, August 5th. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $68.36.

Kellanova Stock Up 7.7 %

NYSE:K opened at $80.21 on Monday. The company has a current ratio of 0.73, a quick ratio of 0.41 and a debt-to-equity ratio of 1.46. The stock has a 50 day moving average of $60.60 and a 200-day moving average of $58.39. The firm has a market capitalization of $27.42 billion, a PE ratio of 30.04, a price-to-earnings-growth ratio of 2.22 and a beta of 0.34. Kellanova has a 52 week low of $47.63 and a 52 week high of $80.46.

Kellanova (NYSE:K) last posted its earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. Kellanova’s revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 EPS. Analysts predict that Kellanova will post 3.68 EPS for the current year.

Kellanova Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.84%. This is an increase from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date is Tuesday, September 3rd. Kellanova’s payout ratio is presently 85.39%.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $60.16, for a total value of $4,680,448.00. Following the completion of the transaction, the insider now owns 51,531,038 shares in the company, valued at $3,100,107,246.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 855,800 shares of company stock valued at $52,647,260 in the last 90 days. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of K. Vanguard Group Inc. boosted its stake in Kellanova by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock valued at $1,797,525,000 after acquiring an additional 1,130,582 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Kellanova by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company’s stock worth $316,323,000 after purchasing an additional 98,294 shares during the last quarter. Beutel Goodman & Co Ltd. grew its stake in shares of Kellanova by 15.5% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock worth $273,504,000 after purchasing an additional 655,686 shares during the period. Norges Bank bought a new position in Kellanova during the fourth quarter worth about $150,184,000. Finally, Dimensional Fund Advisors LP boosted its stake in Kellanova by 11.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock worth $150,909,000 after acquiring an additional 277,171 shares during the last quarter. 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.