Kellanova (NYSE:K) Receives $83.38 Consensus Target Price from Analysts

Kellanova (NYSE:K) has earned a consensus rating of “Hold” from the five analysts that are currently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation. The average twelve-month price objective among analysts that have covered the stock in the last year is $83.3750.

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Kellanova in a report on Saturday, September 27th. JPMorgan Chase & Co. assumed coverage on Kellanova in a report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price objective for the company. Finally, Wall Street Zen cut Kellanova from a “hold” rating to a “sell” rating in a report on Sunday, September 21st.

Kellanova Stock Up 0.1%

Shares of K stock opened at $82.72 on Tuesday. The stock has a market cap of $28.76 billion, a P/E ratio of 21.71, a price-to-earnings-growth ratio of 5.15 and a beta of 0.24. Kellanova has a one year low of $76.48 and a one year high of $83.22. The stock has a fifty day moving average price of $79.66 and a 200 day moving average price of $80.77. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45.

Kellanova (NYSE:K) last issued its earnings results on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.05). Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same period last year, the business earned $1.01 earnings per share. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. Analysts predict that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.8%. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Kellanova’s previous quarterly dividend of $0.57. Kellanova’s dividend payout ratio is presently 60.89%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of Kellanova stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total value of $9,116,350.45. Following the completion of the transaction, the insider owned 45,097,438 shares in the company, valued at approximately $3,587,501,192.90. The trade was a 0.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 802,097 shares of company stock valued at $63,999,316. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Several institutional investors have recently bought and sold shares of K. Norges Bank bought a new position in Kellanova in the 2nd quarter valued at $294,749,000. Pentwater Capital Management LP boosted its position in Kellanova by 39.0% in the 1st quarter. Pentwater Capital Management LP now owns 8,000,000 shares of the company’s stock valued at $659,920,000 after buying an additional 2,245,000 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Kellanova by 66.3% in the 1st quarter. JPMorgan Chase & Co. now owns 2,413,007 shares of the company’s stock valued at $199,049,000 after buying an additional 962,172 shares during the last quarter. LMR Partners LLP boosted its position in Kellanova by 1,866.3% in the 2nd quarter. LMR Partners LLP now owns 961,906 shares of the company’s stock valued at $76,500,000 after buying an additional 912,986 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Kellanova by 21.6% in the 2nd quarter. Bank of America Corp DE now owns 4,055,514 shares of the company’s stock valued at $322,535,000 after buying an additional 720,218 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

About Kellanova

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.