Analysts Set Kellanova (NYSE:K) Price Target at $74.32

Shares of Kellanova (NYSE:K) have been given a consensus rating of “Hold” by the fifteen research firms that are covering the stock, Marketbeat.com reports. Thirteen analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $74.32.

Several research firms recently commented on K. The Goldman Sachs Group started coverage on Kellanova in a research report on Monday, August 12th. They issued a “neutral” rating and a $75.00 target price on the stock. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a research note on Friday, August 2nd. StockNews.com began coverage on shares of Kellanova in a report on Wednesday. They issued a “hold” rating for the company. JPMorgan Chase & Co. raised their target price on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus upped their price target on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, August 12th.

Kellanova Stock Performance

Shares of K opened at $80.64 on Friday. The firm has a fifty day moving average of $73.82 and a 200-day moving average of $63.62. The company has a market cap of $27.57 billion, a price-to-earnings ratio of 30.20, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. Kellanova has a 1 year low of $47.63 and a 1 year high of $80.97.

Kellanova (NYSE:K) last posted its earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. Kellanova’s quarterly revenue was down 4.7% on a year-over-year basis. As a group, equities analysts anticipate that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s payout ratio is presently 85.39%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $80.68, for a total transaction of $9,244,556.44. Following the sale, the insider now directly owns 50,253,689 shares of the company’s stock, valued at approximately $4,054,467,628.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $80.68, for a total value of $9,244,556.44. Following the transaction, the insider now owns 50,253,689 shares in the company, valued at approximately $4,054,467,628.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $56.19, for a total transaction of $4,371,582.00. Following the sale, the insider now owns 51,064,238 shares of the company’s stock, valued at $2,869,299,533.22. The disclosure for this sale can be found here. Insiders have sold a total of 966,149 shares of company stock valued at $69,866,455 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. increased its holdings in Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after buying an additional 170 shares during the last quarter. Family Firm Inc. acquired a new position in shares of Kellanova during the 2nd quarter worth $29,000. BNP Paribas acquired a new position in shares of Kellanova during the 1st quarter worth $30,000. Newbridge Financial Services Group Inc. raised its holdings in shares of Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new stake in Kellanova in the second quarter worth $39,000. 83.87% of the stock is owned by institutional investors and hedge funds.

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.