Kellanova (NYSE:K) Price Target Raised to $64.00 at Barclays

Kellanova (NYSE:K) had its target price lifted by Barclays from $60.00 to $64.00 in a research note released on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities research analysts have also issued reports on K. TD Cowen raised their target price on shares of Kellanova from $57.00 to $62.00 and gave the stock a hold rating in a report on Friday. Citigroup started coverage on shares of Kellanova in a report on Thursday, February 1st. They issued a neutral rating and a $57.00 price target for the company. Stifel Nicolaus lifted their price objective on shares of Kellanova from $56.00 to $58.00 and gave the company a hold rating in a research note on Thursday, January 25th. Piper Sandler boosted their price target on Kellanova from $59.00 to $60.00 and gave the company a neutral rating in a report on Monday, February 12th. Finally, JPMorgan Chase & Co. upped their price target on Kellanova from $59.00 to $66.00 and gave the stock a neutral rating in a report on Friday. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Kellanova currently has an average rating of Hold and a consensus target price of $61.46.

Kellanova Price Performance

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

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the firm earned $1.10 EPS. Kellanova’s quarterly revenue was down 4.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Kellanova will post 3.58 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. Shareholders of record on Monday, June 3rd will be paid a $0.56 dividend. The ex-dividend date is Monday, June 3rd. This represents a $2.24 annualized dividend and a yield of 3.68%. Kellanova’s dividend payout ratio is presently 83.90%.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $53.67, for a total value of $4,175,526.00. Following the sale, the insider now directly owns 52,620,238 shares of the company’s stock, valued at $2,824,128,173.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders sold 933,600 shares of company stock valued at $51,891,044. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Kellanova

Large investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. acquired a new position in shares of Kellanova in the 1st quarter valued at $3,137,000. SG Americas Securities LLC boosted its holdings in shares of Kellanova by 29.9% in the 1st quarter. SG Americas Securities LLC now owns 43,581 shares of the company’s stock valued at $2,497,000 after buying an additional 10,022 shares during the last quarter. Empirical Finance LLC grew its position in shares of Kellanova by 3.8% in the 1st quarter. Empirical Finance LLC now owns 8,829 shares of the company’s stock valued at $506,000 after acquiring an additional 322 shares during the period. Duality Advisers LP bought a new position in Kellanova during the first quarter worth about $1,131,000. Finally, SPC Financial Inc. boosted its stake in shares of Kellanova by 7.3% during the 1st quarter. SPC Financial Inc. now owns 8,850 shares of the company’s stock worth $507,000 after acquiring an additional 604 shares during the period. 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.