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

Key Points

• Kellanova has received an average consensus rating of "Hold" from five brokerages, with a 12-month price target of $83.3750.
• Major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares at an average price of $79.55, representing a 0.25% decrease in their position.
• Kellanova announced an increase in its quarterly dividend to $0.58 per share, up from $0.57, yielding 2.8% annually.

Kellanova (NYSE:K - Get Free Report) has received an average rating of "Hold" from the five brokerages that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating. The average 12-month price target among brokerages that have covered the stock in the last year is $83.3750.

K has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Kellanova from a "hold" rating to a "sell" rating in a research note on Sunday, September 21st. JPMorgan Chase & Co. initiated coverage on Kellanova in a research note on Wednesday, August 20th. They issued a "neutral" rating and a $83.50 price objective for the company.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the completion of the transaction, the insider owned 45,097,438 shares in the company, valued at approximately $3,587,501,192.90. This represents a 0.25% decrease in their position. The transaction 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 802,097 shares of company stock worth $63,999,316. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in K. Wealth Enhancement Advisory Services LLC grew its stake in shares of Kellanova by 8.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,184 shares of the company's stock worth $1,310,000 after acquiring an additional 1,265 shares during the period. Versant Capital Management Inc grew its stake in shares of Kellanova by 32.5% during the 1st quarter. Versant Capital Management Inc now owns 1,024 shares of the company's stock worth $84,000 after acquiring an additional 251 shares during the period. GAMMA Investing LLC grew its stake in shares of Kellanova by 8,377.9% during the 1st quarter. GAMMA Investing LLC now owns 568,274 shares of the company's stock worth $46,877,000 after acquiring an additional 561,571 shares during the period. Rhumbline Advisers grew its stake in shares of Kellanova by 10.8% during the 1st quarter. Rhumbline Advisers now owns 694,801 shares of the company's stock worth $57,314,000 after acquiring an additional 67,465 shares during the period. Finally, Czech National Bank boosted its stake in Kellanova by 5.9% in the 1st quarter. Czech National Bank now owns 61,754 shares of the company's stock worth $5,094,000 after purchasing an additional 3,458 shares during the period. Institutional investors own 83.87% of the company's stock.

Kellanova Stock Up 5.1%

Shares of NYSE:K opened at $81.88 on Tuesday. The company has a market capitalization of $28.47 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 4.85 and a beta of 0.27. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45. The business has a fifty day moving average price of $79.46 and a two-hundred day moving average price of $80.76. Kellanova has a 1 year low of $76.48 and a 1 year high of $83.22.

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

Kellanova Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Kellanova's previous quarterly dividend of $0.57. Kellanova's dividend payout ratio is currently 60.89%.

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.

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