Analysts Set Kellanova (NYSE:K) Target Price at $77.96

Kellanova (NYSE:K) has been assigned an average recommendation of “Hold” from the fourteen research firms that are currently covering the stock, Marketbeat Ratings reports. Thirteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $77.96.

K has been the subject of a number of research analyst reports. StockNews.com started coverage on shares of Kellanova in a research report on Sunday. They issued a “hold” rating for the company. Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $81.91, for a total value of $9,385,493.53. Following the transaction, the insider now owns 48,305,778 shares in the company, valued at $3,956,726,275.98. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders sold 1,260,413 shares of company stock worth $103,672,407. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kellanova

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Kellanova during the 4th quarter valued at approximately $285,126,000. Franklin Resources Inc. boosted its position in shares of Kellanova by 869.5% in the fourth quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company’s stock valued at $208,826,000 after acquiring an additional 2,313,047 shares during the period. FIL Ltd grew its stake in shares of Kellanova by 182.3% in the fourth quarter. FIL Ltd now owns 2,388,000 shares of the company’s stock worth $193,356,000 after acquiring an additional 1,542,000 shares during the last quarter. Barclays PLC increased its position in Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after acquiring an additional 1,033,383 shares during the period. Finally, Tudor Investment Corp ET AL raised its stake in Kellanova by 136.0% during the 4th quarter. Tudor Investment Corp ET AL now owns 1,745,788 shares of the company’s stock valued at $141,356,000 after purchasing an additional 1,006,100 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Price Performance

Shares of NYSE:K opened at $82.45 on Tuesday. The company’s fifty day moving average is $82.35 and its two-hundred day moving average is $81.48. The company has a market cap of $28.46 billion, a P/E ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. Kellanova has a 12-month low of $55.01 and a 12-month high of $83.22. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Equities analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were given a $0.57 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova’s dividend payout ratio is currently 58.91%.

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.