Kellanova (NYSE:K) Price Target Raised to $64.00 at Barclays

Kellanova (NYSE:K - Free Report) had its price target hoisted by Barclays from $60.00 to $64.00 in a research note issued to investors on Monday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

K has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their price target on shares of Kellanova from $59.00 to $66.00 and gave the stock a neutral rating in a report on Friday. Piper Sandler boosted their target price on shares of Kellanova from $59.00 to $60.00 and gave the company a neutral rating in a report on Monday, February 12th. DA Davidson started coverage on shares of Kellanova in a report on Friday, March 1st. They set a buy rating and a $67.00 target price on the stock. Stifel Nicolaus boosted their target price on shares of Kellanova from $56.00 to $58.00 and gave the company a hold rating in a report on Thursday, January 25th. Finally, Citigroup started coverage on shares of Kellanova in a report on Thursday, February 1st. They set a neutral rating and a $57.00 target price on the stock. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Kellanova has an average rating of Hold and a consensus target price of $61.46.

Kellanova Stock Down 0.8 %

Shares of K stock traded down $0.47 on Monday, hitting $60.04. The stock had a trading volume of 2,844,862 shares, compared to its average volume of 3,252,312. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. The business has a 50 day moving average of $56.30 and a 200 day moving average of $54.72. Kellanova has a 12-month low of $47.63 and a 12-month high of $71.53. The stock has a market cap of $20.52 billion, a price-to-earnings ratio of 22.49, a price-to-earnings-growth ratio of 2.32 and a beta of 0.39.

Kellanova (NYSE:K - Get Free Report) last released its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. Kellanova's quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.10 earnings per share. As a group, analysts expect that Kellanova will post 3.58 EPS for the current year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Monday, June 3rd. Kellanova's dividend payout ratio (DPR) is 83.90%.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $58.00, for a total value of $4,512,400.00. Following the completion of the transaction, the insider now directly owns 51,842,238 shares of the company's stock, valued at $3,006,849,804. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 933,600 shares of company stock valued at $51,891,044 over the last three months. Corporate insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Kellanova

A number of hedge funds and other institutional investors have recently bought and sold shares of K. Oakworth Capital Inc. grew its holdings in shares of Kellanova by 491.3% during the third quarter. Oakworth Capital Inc. now owns 473 shares of the company's stock valued at $28,000 after buying an additional 393 shares during the last quarter. Bfsg LLC grew its holdings in shares of Kellanova by 64.5% during the first quarter. Bfsg LLC now owns 510 shares of the company's stock valued at $29,000 after buying an additional 200 shares during the last quarter. Baker Avenue Asset Management LP boosted its holdings in Kellanova by 205.4% in the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company's stock worth $30,000 after purchasing an additional 341 shares during the last quarter. BNP Paribas purchased a new stake in Kellanova in the first quarter worth approximately $30,000. Finally, Motco boosted its holdings in Kellanova by 757.6% in the fourth quarter. Motco now owns 566 shares of the company's stock worth $32,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

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.