Brokerages Set Kellanova (NYSE:K) Price Target at $61.85

Shares of Kellanova (NYSE:KGet Free Report) have received an average rating of “Hold” from the thirteen ratings firms that are covering the company, MarketBeat.com 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 price target among brokers that have covered the stock in the last year is $61.85.

Several equities research analysts have recently commented on K shares. JPMorgan Chase & Co. upped their price target on Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Wells Fargo & Company upped their price target on Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. Stifel Nicolaus upped their price target on Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. TD Cowen upped their price objective on Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Finally, StockNews.com lowered Kellanova from a “buy” rating to a “hold” rating in a report on Friday, February 9th.

Read Our Latest Analysis on Kellanova

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $62.31, for a total value of $4,847,718.00. Following the sale, the insider now directly owns 51,686,638 shares in the company, valued at $3,220,594,413.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $62.31, for a total value of $4,847,718.00. Following the sale, the insider now directly owns 51,686,638 shares in the company, valued at $3,220,594,413.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Nicolas Amaya sold 9,800 shares of the company’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 completion of the sale, the senior vice president now owns 26,191 shares in the company, valued at $1,572,769.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 943,400 shares of company stock valued at $53,719,666. Insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

Institutional investors and hedge funds have recently made changes to their positions in the stock. Baker Avenue Asset Management LP lifted its position in Kellanova by 205.4% during the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after buying an additional 341 shares during the period. Bfsg LLC lifted its position in Kellanova by 64.5% during the first quarter. Bfsg LLC now owns 510 shares of the company’s stock worth $29,000 after buying an additional 200 shares during the period. BNP Paribas purchased a new position in Kellanova during the first quarter worth about $30,000. Motco lifted its position in Kellanova by 757.6% during the fourth quarter. Motco now owns 566 shares of the company’s stock worth $32,000 after buying an additional 500 shares during the period. Finally, Blue Trust Inc. lifted its position in Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after buying an additional 206 shares during the period. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Kellanova Price Performance

Shares of NYSE K opened at $62.08 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34. Kellanova has a twelve month low of $47.63 and a twelve month high of $69.61. The stock has a 50 day moving average of $57.81 and a two-hundred day moving average of $55.53. The stock has a market cap of $21.22 billion, a P/E ratio of 23.25, a P/E/G ratio of 2.18 and a beta of 0.39.

Kellanova (NYSE:KGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, topping 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 analysts’ expectations of $3.16 billion. During the same quarter in the prior year, the business earned $1.10 earnings per share. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, research analysts forecast that Kellanova will post 3.62 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Monday, June 3rd. Kellanova’s dividend payout ratio (DPR) is 83.90%.

Kellanova Company Profile

(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.

Read More

Analyst Recommendations for Kellanova (NYSE:K)

Receive News & Ratings for Kellanova Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellanova and related companies with MarketBeat.com's FREE daily email newsletter.