Kellanova (NYSE:K) Receives Average Recommendation of “Hold” from Brokerages

Shares of Kellanova (NYSE:K) have been assigned a consensus rating of “Hold” from the thirteen analysts that are currently covering the stock, MarketBeat Ratings reports. Twelve research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $79.41.

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. StockNews.com lowered Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd.

Kellanova Trading Up 0.0 %

NYSE:K opened at $82.55 on Friday. The firm’s 50 day moving average is $82.39 and its 200 day moving average is $81.68. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. The stock has a market capitalization of $28.50 billion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. The company’s revenue was down 3.7% compared to the same quarter last year. During the same period last year, the business posted $1.01 EPS. Sell-side analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova’s payout ratio is 57.58%.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $82.23, for a total value of $9,422,160.09. Following the completion of the transaction, the insider now directly owns 48,191,195 shares in the company, valued at approximately $3,962,761,964.85. This represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 1,374,996 shares of company stock valued at $113,261,858 over the last three months. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Kellanova

Hedge funds have recently bought and sold shares of the company. Barclays PLC boosted its holdings in Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the period. Virtu Financial LLC bought a new position in shares of Kellanova in the third quarter worth approximately $374,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Kellanova in the third quarter worth $210,000. Retirement Systems of Alabama raised its holdings in Kellanova by 0.6% during the 3rd quarter. Retirement Systems of Alabama now owns 58,422 shares of the company’s stock valued at $4,715,000 after buying an additional 351 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Kellanova by 6.9% during the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after buying an additional 24,067 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.