Kellanova (NYSE:K) Receives $62.27 Consensus Price Target from Analysts

Shares of Kellanova (NYSE:K) have earned an average recommendation of “Hold” from the thirteen brokerages that are currently covering the firm, Marketbeat.com reports. Eleven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $62.27.

A number of equities analysts have commented on the stock. Citigroup started coverage on shares of Kellanova in a research report on Thursday, February 1st. They set a “neutral” rating and a $57.00 price objective for the company. DA Davidson started coverage on shares of Kellanova in a research report on Friday, March 1st. They issued a “buy” rating and a $67.00 price objective for the company. Stifel Nicolaus lifted their price objective on Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Wells Fargo & Company lifted their price target on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Finally, Piper Sandler increased their price objective on Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $53.62, for a total transaction of $4,171,636.00. Following the sale, the insider now directly owns 52,698,038 shares in the company, valued at approximately $2,825,668,797.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders sold 933,600 shares of company stock worth $51,632,748. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. boosted its position in Kellanova by 10.7% in the 1st quarter. Pinnacle Associates Ltd. now owns 6,444 shares of the company’s stock valued at $369,000 after buying an additional 625 shares during the last quarter. YHB Investment Advisors Inc. purchased a new position in Kellanova in the first quarter valued at about $42,000. Equitable Trust Co. grew its stake in Kellanova by 32.9% during the 1st quarter. Equitable Trust Co. now owns 15,252 shares of the company’s stock valued at $874,000 after purchasing an additional 3,773 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Kellanova by 22.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 360,202 shares of the company’s stock valued at $20,636,000 after purchasing an additional 67,036 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Kellanova by 7.6% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 124,585 shares of the company’s stock valued at $7,138,000 after buying an additional 8,835 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

Kellanova stock opened at $57.73 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51. The company has a fifty day simple moving average of $55.96 and a 200-day simple moving average of $54.29. The stock has a market cap of $19.73 billion, a P/E ratio of 20.99, a price-to-earnings-growth ratio of 2.24 and a beta of 0.40. Kellanova has a 12-month low of $47.63 and a 12-month high of $72.30.

Kellanova (NYSE:K) last posted its earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The company’s revenue was up .3% on a year-over-year basis. During the same period last year, the firm posted $0.94 EPS. Equities analysts expect that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.56 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.24 annualized dividend and a dividend yield of 3.88%. Kellanova’s payout ratio is 81.45%.

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.