Analysts Set Kellanova (NYSE:K) Price Target at $61.85

Kellanova (NYSE:K) has received an average rating of “Hold” from the thirteen brokerages that are presently covering the company, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $61.85.

K has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Barclays raised their price objective on Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. Citigroup assumed coverage on Kellanova in a report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 target price on the stock. DA Davidson boosted their price objective on shares of Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, Piper Sandler increased their target price on shares of Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th.

Kellanova Stock Performance

Shares of K opened at $61.62 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. The firm’s 50 day moving average is $58.13 and its 200-day moving average is $55.64. Kellanova has a 12-month low of $47.63 and a 12-month high of $68.93. The stock has a market capitalization of $21.07 billion, a P/E ratio of 23.08, a P/E/G ratio of 2.20 and a beta of 0.39.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. Kellanova’s revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the business posted $1.10 EPS. Equities research analysts anticipate that Kellanova will post 3.62 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Monday, June 3rd. 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 stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $62.01, for a total transaction of $4,824,378.00. Following the transaction, the insider now owns 51,608,838 shares in the company, valued at $3,200,264,044.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $60.05, for a total value of $588,490.00. Following the sale, the senior vice president now directly owns 26,191 shares in the company, valued at approximately $1,572,769.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $62.01, for a total transaction of $4,824,378.00. Following the transaction, the insider now directly owns 51,608,838 shares of the company’s stock, valued at approximately $3,200,264,044.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 943,400 shares of company stock worth $54,183,354. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kellanova

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baker Avenue Asset Management LP lifted its holdings in shares of Kellanova by 205.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after acquiring an additional 341 shares during the period. Bfsg LLC boosted its holdings in Kellanova by 64.5% during the first quarter. Bfsg LLC now owns 510 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. BNP Paribas bought a new stake in shares of Kellanova in the 1st quarter valued at approximately $30,000. Motco raised its holdings in shares of Kellanova by 757.6% in the 4th quarter. Motco now owns 566 shares of the company’s stock worth $32,000 after buying an additional 500 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Kellanova by 55.1% during the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after buying an additional 206 shares during the period. 83.87% of the stock is currently owned by institutional investors.

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.