Kellanova (NYSE:K) Receives $83.38 Average Target Price from Brokerages

by · The Cerbat Gem

Shares of Kellanova (NYSE:K – Get Free Report) have received a consensus recommendation of “Hold” from the five research firms that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation. The average 12-month target price among brokers that have covered the stock in the last year is $83.3750.

K has been the topic of a number of analyst reports. JPMorgan Chase & Co. initiated coverage on Kellanova in a report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 target price on the stock. Weiss Ratings cut Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday. Finally, Wall Street Zen cut Kellanova from a “hold” rating to a “sell” rating in a report on Sunday, September 21st.

View Our Latest Stock Analysis on K

Kellanova Price Performance

Shares of NYSE:K opened at $83.10 on Friday. The business’s fifty day moving average price is $80.59 and its two-hundred day moving average price is $80.84. The stock has a market cap of $28.89 billion, a PE ratio of 21.81, a price-to-earnings-growth ratio of 5.16 and a beta of 0.24. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68. Kellanova has a one year low of $76.48 and a one year high of $83.22.

Kellanova (NYSE:K – Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.19 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. Kellanova’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 EPS. On average, analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.58 per share. The ex-dividend date is Monday, December 1st. This represents a $2.32 annualized dividend and a dividend yield of 2.8%. Kellanova’s dividend payout ratio (DPR) is 60.89%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the sale, the insider owned 45,097,438 shares in the company, valued at $3,587,501,192.90. This trade represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 343,765 shares of company stock worth $27,455,360 in the last 90 days. 1.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kellanova

Several hedge funds have recently made changes to their positions in the business. Pinnacle Associates Ltd. boosted its holdings in shares of Kellanova by 2.0% during the first quarter. Pinnacle Associates Ltd. now owns 6,373 shares of the company’s stock worth $526,000 after purchasing an additional 123 shares during the last quarter. Independent Advisor Alliance raised its position in shares of Kellanova by 1.8% in the 1st quarter. Independent Advisor Alliance now owns 7,334 shares of the company’s stock worth $605,000 after buying an additional 131 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of Kellanova by 1.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 10,423 shares of the company’s stock worth $860,000 after buying an additional 132 shares during the period. Cigna Investments Inc. New raised its position in shares of Kellanova by 5.3% in the 2nd quarter. Cigna Investments Inc. New now owns 2,797 shares of the company’s stock worth $222,000 after buying an additional 141 shares during the period. Finally, Ethic Inc. raised its position in shares of Kellanova by 0.9% in the 2nd quarter. Ethic Inc. now owns 17,216 shares of the company’s stock worth $1,360,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

About Kellanova

(Get Free Report)

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.

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