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

Key Points

• Kellanova has received a consensus rating of "Hold" from eleven analysts, with an average 12-month price target of $81.80.
• The company recently announced a quarterly dividend increase to $0.58, representing a 2.9% dividend yield and a payout ratio of 59.84%.
• Kellanova's major shareholder, Kellogg W. K. Foundation Trust, has sold a total of 1,260,413 shares in the last three months, valued over $101 million.

Kellanova (NYSE:K - Get Free Report) has earned a consensus recommendation of "Hold" from the nine analysts that are covering the stock, Marketbeat reports. Nine investment analysts have rated the stock with a hold rating. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $83.3750.

Several equities research analysts recently commented on K shares. Wall Street Zen downgraded Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 target price on the stock in a report on Thursday, May 29th.

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 Monday, July 28th. The stock was sold at an average price of $79.79, for a total value of $9,142,577.57. Following the completion of the sale, the insider directly owned 45,555,786 shares in the company, valued at approximately $3,634,896,164.94. The trade was a 0.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 1,145,830 shares of company stock valued at $92,059,420. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pinnacle Associates Ltd. boosted its position in Kellanova by 2.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 6,373 shares of the company's stock worth $526,000 after acquiring an additional 123 shares during the period. Independent Advisor Alliance raised its stake in shares of Kellanova by 1.8% in the 1st quarter. Independent Advisor Alliance now owns 7,334 shares of the company's stock worth $605,000 after buying an additional 131 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Kellanova by 1.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 10,423 shares of the company's stock worth $860,000 after buying an additional 132 shares in the last quarter. Cigna Investments Inc. New raised its stake in shares of Kellanova by 5.3% in the 2nd quarter. Cigna Investments Inc. New now owns 2,797 shares of the company's stock worth $222,000 after buying an additional 141 shares in the last quarter. Finally, Ethic Inc. raised its stake in shares of Kellanova by 0.9% in the 2nd quarter. Ethic Inc. now owns 17,216 shares of the company's stock worth $1,360,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Kellanova Trading Down 0.0%

Shares of NYSE K traded down $0.01 during midday trading on Monday, hitting $80.19. The stock had a trading volume of 1,069,704 shares, compared to its average volume of 2,986,644. The company has a market capitalization of $27.88 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 4.97 and a beta of 0.27. Kellanova has a 1-year low of $77.70 and a 1-year high of $83.22. 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 company has a fifty day moving average price of $79.91 and a 200 day moving average price of $81.49.

Kellanova (NYSE:K - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.05). The company had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.19 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The business's quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 earnings per share. On average, analysts predict that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.9%. This is a positive change from Kellanova's previous quarterly dividend of $0.57. Kellanova's dividend payout ratio is presently 59.84%.

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.