Kellanova (NYSE:K) Given New $64.00 Price Target at Barclays

Kellanova (NYSE:K) had its target price upped by Barclays from $60.00 to $64.00 in a report issued on Monday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. boosted their price objective on Kellanova from $59.00 to $66.00 and gave the stock a neutral rating in a research report on Friday. Stifel Nicolaus upped their price target on shares of Kellanova from $56.00 to $58.00 and gave the company a hold rating in a research report on Thursday, January 25th. Piper Sandler lifted their price objective on shares of Kellanova from $59.00 to $60.00 and gave the company a neutral rating in a research note on Monday, February 12th. Citigroup assumed coverage on Kellanova in a report on Thursday, February 1st. They issued a neutral rating and a $57.00 price target on the stock. Finally, Wells Fargo & Company lifted their price objective on shares of Kellanova from $56.00 to $58.00 and gave the company an equal weight rating in a report on Friday, February 9th. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Kellanova presently has a consensus rating of Hold and an average target price of $61.46.

Kellanova Stock Performance

K stock traded up $0.78 during trading hours on Monday, reaching $60.82. The stock had a trading volume of 97,740 shares, compared to its average volume of 3,216,405. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $71.53. The stock has a market capitalization of $20.79 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 2.32 and a beta of 0.39. The stock has a 50-day simple moving average of $56.30 and a 200 day simple moving average of $54.72. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41.

Kellanova (NYSE:K) last announced its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the business posted $1.10 EPS. The business’s revenue was down 4.2% compared to the same quarter last year. Analysts predict that Kellanova will post 3.58 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be issued a $0.56 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.24 annualized dividend and a yield of 3.68%. Kellanova’s payout ratio is 83.90%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $52.90, for a total value of $4,115,620.00. Following the completion of the transaction, the insider now directly owns 52,309,038 shares in the company, valued at approximately $2,767,148,110.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 933,600 shares of company stock valued at $51,891,044. 1.80% of the stock is owned by company insiders.

Institutional Trading of Kellanova

Several institutional investors have recently added to or reduced their stakes in K. Norges Bank acquired a new stake in shares of Kellanova during the fourth quarter worth about $150,184,000. Invesco Ltd. boosted its stake in Kellanova by 29.4% during the third quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock worth $296,971,000 after buying an additional 1,132,485 shares during the last quarter. Vanguard Group Inc. increased its position in Kellanova by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock worth $1,797,525,000 after purchasing an additional 1,130,582 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Kellanova by 27.4% during the 3rd quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock valued at $291,061,000 after buying an additional 1,051,922 shares during the period. Finally, Anchor Capital Advisors LLC purchased a new stake in Kellanova in the fourth quarter valued at $38,939,000. 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.