Kellanova (NYSE:K) Sets New 52-Week High – Still a Buy?

Shares of Kellanova (NYSE:K) hit a new 52-week high on Tuesday . The company traded as high as $81.79 and last traded at $81.78, with a volume of 2647218 shares changing hands. The stock had previously closed at $81.56.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on K shares. StockNews.com began coverage on shares of Kellanova in a report on Wednesday, January 15th. They set a “hold” rating for the company. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Friday, November 1st. Finally, Argus lowered Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $76.35.

Kellanova Trading Down 0.1 %

The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The stock has a fifty day moving average of $80.97 and a 200 day moving average of $76.86. The company has a market capitalization of $28.15 billion, a P/E ratio of 28.08, a PEG ratio of 2.50 and a beta of 0.37.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.03 earnings per share. As a group, equities research analysts anticipate that Kellanova will post 3.75 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.79%. Kellanova’s dividend payout ratio (DPR) is 78.35%.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $80.99, for a total value of $9,280,077.17. Following the completion of the sale, the insider now directly owns 49,337,025 shares of the company’s stock, valued at $3,995,805,654.75. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have sold 916,664 shares of company stock worth $74,232,597. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Large investors have recently bought and sold shares of the business. CVA Family Office LLC boosted its position in Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after buying an additional 307 shares during the period. Newbridge Financial Services Group Inc. boosted its holdings in shares of Kellanova by 61.9% in the second 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 during the period. MCF Advisors LLC raised its position in Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after purchasing an additional 137 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of Kellanova by 41.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after buying an additional 158 shares during the period. Finally, Mather Group LLC. lifted its holdings in shares of Kellanova by 71.3% in the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after buying an additional 256 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.