Kellanova (NYSE:K) Hits New 52-Week High – What’s Next?

Kellanova (NYSE:K) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $83.45 and last traded at $83.3290, with a volume of 1408006 shares changing hands. The stock had previously closed at $83.32.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Kellanova from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. JPMorgan Chase & Co. started coverage on Kellanova in a research note on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 target price on the stock. Finally, Weiss Ratings downgraded Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Four analysts have rated the stock with a Hold rating, According to MarketBeat, Kellanova has a consensus rating of “Hold” and an average target price of $83.50.

Kellanova Price Performance

The firm has a market cap of $28.99 billion, a P/E ratio of 21.87, a P/E/G ratio of 5.16 and a beta of 0.23. The firm’s fifty day simple moving average is $81.35 and its 200 day simple moving average is $80.88. 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 (NYSE:K) last posted its earnings results on Thursday, October 30th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the prior year, the company earned $0.91 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. As a group, analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.58 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.8%. Kellanova’s payout ratio is 63.74%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the business’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the transaction, the insider owned 45,097,438 shares in the company, valued at $3,587,501,192.90. The trade was a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 343,765 shares of company stock worth $27,455,360 over the last ninety days. 1.80% of the stock is owned by insiders.

Institutional Trading of Kellanova

A number of large investors have recently modified their holdings of K. Financial Network Wealth Advisors LLC bought a new position in shares of Kellanova during the 1st quarter worth $25,000. Close Asset Management Ltd acquired a new stake in shares of Kellanova during the third quarter worth about $33,000. Trust Co. of Toledo NA OH purchased a new stake in Kellanova in the second quarter valued at $45,000. Dagco Inc. acquired a new position in shares of Kellanova in the 1st quarter valued at $49,000. Finally, Cypress Capital Management LLC WY acquired a new stake in shares of Kellanova during the 1st quarter valued at about $54,000. 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.