Kellanova (NYSE:K - Free Report ) had its price objective raised by DA Davidson from $67.00 to $72.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.
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K has been the topic of several other reports. Piper Sandler upped their price target on Kellanova from $59.00 to $60.00 and gave the company a neutral rating in a research report on Monday, February 12th. StockNews.com lowered Kellanova from a buy rating to a hold rating in a research report on Friday, February 9th. TD Cowen upped their target price on Kellanova from $57.00 to $62.00 and gave the stock a hold rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. upped their target price on Kellanova from $59.00 to $66.00 and gave the stock a neutral rating in a research report on Friday, May 3rd. Finally, Barclays upped their target price on Kellanova from $60.00 to $64.00 and gave the stock an equal weight rating in a research report on Monday. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $61.85.
Check Out Our Latest Research Report on K
Kellanova Price Performance Shares of Kellanova stock traded down $0.73 during trading on Thursday, hitting $61.60. The stock had a trading volume of 2,251,251 shares, compared to its average volume of 3,248,854. 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 firm has a market cap of $21.06 billion, a P/E ratio of 23.07, a PEG ratio of 2.32 and a beta of 0.39. The business has a fifty day moving average of $56.54 and a two-hundred day moving average of $54.85. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $71.19.
Kellanova (NYSE:K - Get Free Report ) last announced its earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the prior year, the business posted $1.10 earnings per share. Kellanova's revenue was down 4.2% compared to the same quarter last year. On average, sell-side analysts expect that Kellanova will post 3.58 earnings per share for the current fiscal year.
Kellanova Dividend Announcement The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be given a dividend of $0.56 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.64%. Kellanova's dividend payout ratio (DPR) is presently 83.90%.
Insider Buying and Selling In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm's stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $60.92, for a total transaction of $4,739,576.00. Following the completion of the sale, the insider now directly owns 51,764,438 shares of the company's stock, valued at approximately $3,153,489,562.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website . In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm's stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $60.92, for a total transaction of $4,739,576.00. Following the completion of the sale, the insider now directly owns 51,764,438 shares of the company's stock, valued at approximately $3,153,489,562.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website . Also, SVP Nicolas Amaya sold 9,800 shares of the firm's stock in a transaction on Monday, May 6th. The shares were sold at an average price of $60.05, for a total value of $588,490.00. Following the sale, the senior vice president now directly owns 26,191 shares of the company's stock, valued at $1,572,769.55. The disclosure for this sale can be found here . Insiders sold 1,021,200 shares of company stock worth $57,219,110 in the last 90 days. 1.80% of the stock is owned by company insiders.
Institutional Investors Weigh In On Kellanova Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Kellanova by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company's stock worth $1,797,525,000 after purchasing an additional 1,130,582 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Kellanova by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company's stock worth $316,323,000 after purchasing an additional 98,294 shares during the last quarter. Invesco Ltd. boosted its position in shares of Kellanova by 29.4% in the 3rd quarter. Invesco Ltd. now owns 4,990,266 shares of the company's stock worth $296,971,000 after purchasing an additional 1,132,485 shares during the last quarter. Beutel Goodman & Co Ltd. boosted its position in shares of Kellanova by 15.5% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company's stock worth $273,504,000 after purchasing an additional 655,686 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Kellanova by 27.4% in the 3rd quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company's stock worth $291,061,000 after purchasing an additional 1,051,922 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.
About Kellanova (
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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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