Brokerages Set Kellanova (NYSE:K) Price Target at $62.27

Kellanova (NYSE:K) has received a consensus rating of “Hold” from the thirteen analysts that are presently covering the stock, Marketbeat reports. Eleven equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $62.27.

A number of analysts have issued reports on the stock. Barclays boosted their price target on shares of Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. DA Davidson started coverage on shares of Kellanova in a research report on Friday, March 1st. They issued a “buy” rating and a $67.00 price target for the company. JPMorgan Chase & Co. upped their price objective on Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Piper Sandler increased their price objective on Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Finally, Stifel Nicolaus boosted their target price on Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Monday, January 29th. The shares were sold at an average price of $54.68, for a total value of $4,254,104.00. Following the transaction, the insider now directly owns 52,775,838 shares of the company’s stock, valued at approximately $2,885,782,821.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 933,600 shares of company stock valued at $51,632,748 in the last three months. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Kellanova

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank purchased a new position in Kellanova in the third quarter valued at about $4,974,000. Raymond James & Associates lifted its holdings in shares of Kellanova by 11.9% during the 4th quarter. Raymond James & Associates now owns 400,371 shares of the company’s stock worth $22,385,000 after acquiring an additional 42,656 shares during the period. Soltis Investment Advisors LLC boosted its holdings in shares of Kellanova by 25.7% in the 3rd quarter. Soltis Investment Advisors LLC now owns 46,127 shares of the company’s stock valued at $2,745,000 after purchasing an additional 9,434 shares during the last quarter. Savoir Faire Capital Management L.P. acquired a new position in Kellanova in the third quarter valued at $3,248,000. Finally, CX Institutional lifted its stake in shares of Kellanova by 52.9% in the 4th quarter. CX Institutional now owns 59,975 shares of the company’s stock valued at $3,353,000 after purchasing an additional 20,752 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Trading Down 0.5 %

Shares of K stock opened at $58.45 on Tuesday. The firm has a market capitalization of $19.98 billion, a P/E ratio of 21.25, a PEG ratio of 2.23 and a beta of 0.40. The stock’s fifty day moving average is $55.92 and its two-hundred day moving average is $54.22. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $72.30. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.41 and a current ratio of 0.66.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same period last year, the business earned $0.94 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. Research analysts expect that Kellanova will post 3.57 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.56 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.24 annualized dividend and a yield of 3.83%. Kellanova’s dividend payout ratio is currently 81.45%.

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.