Kellanova (NYSE:K) Receives Consensus Rating of "Hold" from Brokerages

Shares of Kellanova (NYSE:K - Get Free Report) have received an average recommendation of "Hold" from the fourteen ratings firms that are presently covering the company, Marketbeat.com reports. Thirteen research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $79.75.

Several research firms have weighed in on K. Wall Street Zen downgraded shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Royal Bank of Canada lowered Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Finally, Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 target price for the company in a report on Thursday.

Kellanova Price Performance

NYSE:K traded up $0.10 during mid-day trading on Wednesday, reaching $82.60. The stock had a trading volume of 5,559,902 shares, compared to its average volume of 2,775,646. The stock has a market capitalization of $28.66 billion, a P/E ratio of 21.34, a P/E/G ratio of 4.21 and a beta of 0.30. The firm has a 50 day moving average price of $82.38 and a two-hundred day moving average price of $81.85. 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 has a one year low of $55.96 and a one year high of $83.22.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The firm's revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 earnings per share. As a group, analysts expect 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 given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova's dividend payout ratio is presently 57.58%.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $82.26, for a total value of $9,425,597.58. Following the sale, the insider now directly owns 47,618,280 shares of the company's stock, valued at $3,917,079,712.80. The trade was a 0.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 1,374,996 shares of company stock valued at $113,174,775. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Independent Advisor Alliance raised 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 valued at $583,000 after purchasing an additional 1,019 shares during the last quarter. Aviva PLC increased its position in shares of 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. Barclays PLC lifted its stake in shares of Kellanova by 134.7% in 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. Alpine Associates Management Inc. boosted its holdings in shares of Kellanova by 93.5% in the fourth quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company's stock worth $49,622,000 after buying an additional 296,150 shares during the last quarter. Finally, Decagon Asset Management LLP purchased a new position in shares of Kellanova in the fourth quarter worth approximately $10,125,000. Hedge funds and other 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.