Kellanova (NYSE:K) Research Coverage Started at StockNews.com

15 Oct 2024, 01:10 by Doug Wharley · The Cerbat Gem

StockNews.com started coverage on shares of Kellanova (NYSE:K – Free Report) in a report published on Friday morning. The firm issued a hold rating on the stock.

K has been the subject of several other research reports. DA Davidson cut shares of Kellanova from a buy rating to a neutral rating and upped their price objective for the company from $80.00 to $83.50 in a research note on Monday, August 26th. Stifel Nicolaus raised their target price on shares of Kellanova from $64.00 to $76.00 and gave the company a hold rating in a report on Monday, August 12th. Argus cut Kellanova from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Bank of America upgraded shares of Kellanova from a neutral rating to a buy rating and raised their price objective for the company from $62.00 to $70.00 in a research note on Friday, August 2nd. Finally, BNP Paribas raised shares of Kellanova from a neutral rating to an outperform rating and set a $74.00 price objective for the company in a research note on Monday, August 5th. Fifteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Kellanova currently has an average rating of Hold and an average price target of $74.32.

View Our Latest Stock Analysis on K

Kellanova Trading Up 0.1 %

Shares of K stock opened at $80.63 on Friday. The stock’s 50-day moving average price is $79.58 and its 200-day moving average price is $65.98. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $27.57 billion, a price-to-earnings ratio of 30.20, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. Kellanova has a 12-month low of $49.28 and a 12-month high of $81.00.

Kellanova (NYSE:K – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the company posted $1.25 EPS. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. Equities research analysts predict that Kellanova will post 3.7 EPS for the current fiscal year.

Kellanova Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. This is an increase from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, September 3rd. Kellanova’s dividend payout ratio (DPR) is presently 85.39%.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $57.67, for a total value of $4,486,726.00. Following the completion of the transaction, the insider now directly owns 50,986,438 shares in the company, valued at approximately $2,940,387,879.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the completion of the sale, the insider now directly owns 50,482,855 shares of the company’s stock, valued at $4,051,249,113.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $57.67, for a total value of $4,486,726.00. Following the sale, the insider now owns 50,986,438 shares in the company, valued at approximately $2,940,387,879.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,039,715 shares of company stock valued at $79,608,273. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kellanova

A number of large investors have recently made changes to their positions in the business. Optimist Retirement Group LLC acquired a new stake in Kellanova in the 4th quarter valued at about $518,000. V Square Quantitative Management LLC increased its stake in shares of Kellanova by 22.3% in the 4th quarter. V Square Quantitative Management LLC now owns 6,243 shares of the company’s stock valued at $349,000 after acquiring an additional 1,137 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of Kellanova during the fourth quarter worth approximately $199,000. Integrated Advisors Network LLC increased its position in shares of Kellanova by 66.0% during the fourth quarter. Integrated Advisors Network LLC now owns 7,539 shares of the company’s stock worth $422,000 after acquiring an additional 2,997 shares in the last quarter. Finally, Syon Capital LLC bought a new position in shares of Kellanova in the fourth quarter valued at approximately $327,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

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