Shares of Kellanova (NYSE:K - Get Free Report) saw strong trading volume on Thursday . 2,846,914 shares were traded during trading, an increase of 4% from the previous session's volume of 2,750,599 shares.The stock last traded at $80.80 and had previously closed at $81.61.
Wall Street Analyst Weigh In
K has been the topic of a number of research reports. Royal Bank of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Wall Street Zen downgraded shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Finally, Citigroup raised shares of Kellanova to a "neutral" rating and set a $83.50 price objective for the company in a research note on Thursday, May 29th. Fourteen analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Kellanova has an average rating of "Hold" and an average target price of $79.75.
Get Our Latest Analysis on K
Kellanova Trading Down 0.4%
The firm has a market capitalization of $27.73 billion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 4.21 and a beta of 0.30. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The company has a 50 day moving average price of $82.26 and a two-hundred day moving average price of $81.91.
Kellanova (NYSE:K - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (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 during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the business earned $1.01 EPS. The firm's revenue for the quarter was down 3.7% compared to the same quarter last year. On average, research analysts forecast that Kellanova will post 3.93 EPS for the current year.
Kellanova Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.85%. Kellanova's payout ratio is 57.58%.
Insiders Place Their Bets
In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $82.31, for a total value of $9,431,326.73. Following the completion of the transaction, the insider now directly owns 47,503,697 shares in the company, valued at approximately $3,910,029,300.07. This represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 1,260,413 shares of company stock valued at $103,673,553 in the last three months. 1.80% of the stock is currently owned by insiders.
Institutional Trading of Kellanova
Institutional investors and hedge funds have recently bought and sold shares of the business. Independent Advisor Alliance lifted its stake in Kellanova by 16.5% in the fourth quarter. Independent Advisor Alliance now owns 7,203 shares of the company's stock worth $583,000 after acquiring an additional 1,019 shares during the last quarter. Aviva PLC lifted 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 worth $43,943,000 after purchasing an additional 13,531 shares during the last quarter. Alpine Associates Management Inc. grew its stake in shares of Kellanova by 93.5% during the fourth quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company's stock worth $49,622,000 after purchasing an additional 296,150 shares in the last quarter. Decagon Asset Management LLP purchased a new position in Kellanova in the fourth quarter valued at $10,125,000. Finally, Pictet Asset Management Holding SA raised its stake in Kellanova by 12.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 164,657 shares of the company's stock valued at $13,332,000 after buying an additional 18,045 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.
About Kellanova
(
Get Free Report)
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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