Kellanova (NYSE:K) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Kellanova (NYSE:K) in a report published on Wednesday morning. The firm issued a hold rating on the stock.

Several other research analysts have also weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Kellanova in a research note on Monday, August 12th. They issued a “neutral” rating and a $75.00 price objective on the stock. Wells Fargo & Company increased their price objective on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and raised their price target for the company from $62.00 to $70.00 in a report on Friday, August 2nd. Finally, Royal Bank of Canada cut shares of Kellanova from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $76.35.

Kellanova Trading Up 0.2 %

Shares of K stock opened at $81.17 on Wednesday. The firm has a market capitalization of $27.98 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 2.60 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. Kellanova has a 1 year low of $51.02 and a 1 year high of $81.34. The stock has a fifty day moving average of $80.77 and a two-hundred day moving average of $70.65.

Kellanova (NYSE:K) last announced its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the business posted $1.03 earnings per share. As a group, research analysts expect that Kellanova will post 3.74 EPS for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.81%. Kellanova’s dividend payout ratio is 78.35%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, September 9th. The shares were sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the completion of the sale, the insider now owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 1,109,047 shares of company stock worth $89,483,556. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Institutional investors and hedge funds have recently made changes to their positions in the company. Swedbank AB boosted its holdings in shares of Kellanova by 20.5% in the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock valued at $22,076,000 after buying an additional 46,450 shares during the period. CANADA LIFE ASSURANCE Co raised its position in Kellanova by 4.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock valued at $14,705,000 after buying an additional 10,676 shares during the last quarter. SG Americas Securities LLC lifted its stake in Kellanova by 498.7% in the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock valued at $15,049,000 after acquiring an additional 217,320 shares in the last quarter. Principal Financial Group Inc. boosted its position in Kellanova by 6.9% during the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after acquiring an additional 24,067 shares during the last quarter. Finally, Atria Investments Inc bought a new position in shares of Kellanova during the 1st quarter worth approximately $1,003,000. Institutional investors and hedge funds 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.