Kellanova (NYSE:K) Given Average Rating of "Hold" by Brokerages

Kellanova (NYSE:K - Get Free Report) has been assigned an average recommendation of "Hold" from the thirteen research firms that are currently covering the company, Marketbeat reports. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $79.41.

A number of brokerages have issued reports on K. StockNews.com cut shares of Kellanova from a "buy" rating to a "hold" rating in a report on Friday. Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th.

Kellanova Stock Down 0.2 %

Shares of NYSE:K opened at $82.67 on Friday. Kellanova has a 1 year low of $55.96 and a 1 year high of $83.22. The stock has a 50-day simple moving average of $82.40 and a 200-day simple moving average of $81.65. The stock has a market capitalization of $28.54 billion, a P/E ratio of 21.36, a PEG ratio of 4.21 and a beta of 0.34. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81.

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

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova's payout ratio is 58.91%.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $82.25, for a total transaction of $9,424,451.75. Following the transaction, the insider now owns 48,076,612 shares of the company's stock, valued at approximately $3,954,301,337. This represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 1,260,413 shares of company stock worth $103,801,886. Insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Kellanova

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Independent Advisor Alliance lifted its holdings in shares of Kellanova by 16.5% during the fourth quarter. Independent Advisor Alliance now owns 7,203 shares of the company's stock worth $583,000 after buying an additional 1,019 shares during the last quarter. Aviva PLC raised its stake in Kellanova by 2.6% during the 4th quarter. Aviva PLC now owns 542,709 shares of the company's stock valued at $43,943,000 after purchasing an additional 13,531 shares during the last quarter. Wedmont Private Capital bought a new stake in Kellanova in the 4th quarter valued at $384,000. FNY Investment Advisers LLC acquired a new stake in Kellanova in the 4th quarter worth $2,490,000. Finally, Barclays PLC increased its holdings in shares of Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company's stock worth $145,309,000 after purchasing an additional 1,033,383 shares during the period. Institutional investors and hedge funds 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.

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