By otakuyassine3@gmail.com 
StockNews.com started coverage on shares of Kellanova (NYSE:K – Free Report) in a research report report published on Wednesday morning. The brokerage issued a hold rating on the stock.
Several other analysts have also commented on K. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research report on Friday, November 1st. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Fifteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $76.35.
Check Out Our Latest Stock Analysis on K
Kellanova Stock Up 0.2 %
Shares of NYSE:K opened at $81.73 on Wednesday. Kellanova has a 52-week low of $52.46 and a 52-week high of $81.79. The stock has a market cap of $28.17 billion, a P/E ratio of 28.09, a PEG ratio of 2.49 and a beta of 0.37. The business has a fifty day moving average of $80.94 and a two-hundred day moving average of $76.37. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.
Kellanova (NYSE:K – Get Free Report) last announced its quarterly 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. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the previous year, the company posted $1.03 EPS. The company’s revenue was down .7% compared to the same quarter last year. On average, research analysts expect that Kellanova will post 3.75 earnings per share for the current year.
Kellanova Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Monday, December 2nd. Kellanova’s payout ratio is currently 78.35%.
Insider Buying and Selling
In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $81.42, for a total transaction of $9,329,347.86. Following the completion of the sale, the insider now owns 48,534,944 shares in the company, valued at approximately $3,951,715,140.48. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 1,031,247 shares of company stock worth $83,509,236 in the last quarter. 1.80% of the stock is owned by insiders.
Hedge Funds Weigh In On Kellanova
Several institutional investors have recently added to or reduced their stakes in the stock. CVA Family Office LLC raised its position in Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after buying an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in shares of Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares during the period. MCF Advisors LLC increased its stake in shares of Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after acquiring an additional 137 shares during the period. Capital Advisors Ltd. LLC raised its holdings in Kellanova by 41.4% during the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after purchasing an additional 158 shares in the last quarter. Finally, Mather Group LLC. lifted its position in Kellanova by 71.3% in the third quarter. Mather Group LLC. now owns 615 shares of the company’s stock valued at $50,000 after purchasing an additional 256 shares during the period. Institutional investors and hedge funds 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.
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