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

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

Several brokerages recently issued reports on K. Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 price target for the company in a report on Thursday, May 29th. Wall Street Zen cut Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $79.68, for a total transaction of $9,129,973.44. Following the sale, the insider directly owned 45,899,535 shares in the company, valued at approximately $3,657,274,948.80. The trade was a 0.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 1,374,996 shares of company stock worth $111,466,342. Insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Kellanova by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 32,695,348 shares of the company's stock worth $2,697,039,000 after acquiring an additional 259,604 shares in the last quarter. Keybank National Association OH increased its stake in Kellanova by 0.7% in the 1st quarter. Keybank National Association OH now owns 19,718,498 shares of the company's stock worth $1,626,579,000 after purchasing an additional 128,439 shares in the last quarter. Pentwater Capital Management LP raised its holdings in Kellanova by 39.0% during the 1st quarter. Pentwater Capital Management LP now owns 8,000,000 shares of the company's stock worth $659,920,000 after buying an additional 2,245,000 shares during the period. Geode Capital Management LLC lifted its stake in Kellanova by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company's stock valued at $556,014,000 after buying an additional 158,560 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Kellanova by 2.7% in the fourth quarter. Invesco Ltd. now owns 4,168,070 shares of the company's stock worth $337,489,000 after buying an additional 111,396 shares during the period. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Price Performance

K stock opened at $79.75 on Thursday. The stock has a market capitalization of $27.67 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 4.22 and a beta of 0.28. The stock's fifty day simple moving average is $80.81 and its 200-day simple moving average is $81.68. Kellanova has a 52-week low of $56.37 and a 52-week high of $83.22. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.25.

Kellanova (NYSE:K - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). Kellanova had a net margin of 10.93% and a return on equity of 34.80%. The company had revenue of $3.08 billion during the quarter, compared to analysts' expectations of $3.16 billion. During the same quarter in the previous year, the firm posted $1.01 earnings per share. Kellanova's revenue for the quarter was down 3.7% compared to the same quarter last year. Equities research analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.86%. Kellanova's dividend payout ratio (DPR) is presently 57.58%.

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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