Kellanova (NYSE:K) Hits New 12-Month High – What’s Next?

Kellanova (NYSE:K) hit a new 52-week high during trading on Wednesday . The stock traded as high as $83.42 and last traded at $83.1650, with a volume of 215185 shares traded. The stock had previously closed at $83.19.

Wall Street Analyst Weigh In

K has been the subject of several research reports. Weiss Ratings downgraded Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. JPMorgan Chase & Co. began coverage on shares of Kellanova in a research note on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price objective for the company. Finally, Wall Street Zen raised shares of Kellanova from a “sell” rating to a “hold” rating in a research note on Saturday. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $83.50.

Kellanova Trading Down 0.0%

The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03. The firm’s 50-day simple moving average is $80.97 and its 200 day simple moving average is $80.86. The stock has a market capitalization of $28.94 billion, a P/E ratio of 21.83, a PEG ratio of 5.16 and a beta of 0.23.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.88 by $0.06. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. Kellanova’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. Equities research analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

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

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the company’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $79.55, for a total value 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. This represents a 0.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 343,765 shares of company stock valued at $27,455,360. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kellanova

Several large investors have recently made changes to their positions in the company. Financial Network Wealth Advisors LLC bought a new stake in Kellanova during the first quarter worth approximately $25,000. Trust Co. of Toledo NA OH bought a new stake in Kellanova during the second quarter worth approximately $45,000. Dagco Inc. bought a new stake in Kellanova during the first quarter worth approximately $49,000. Cypress Capital Management LLC WY bought a new stake in Kellanova during the first quarter worth approximately $54,000. Finally, CYBER HORNET ETFs LLC bought a new stake in Kellanova during the second quarter worth approximately $55,000. 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.