Kellanova (NYSE:K) Given Average Rating of “Hold” by Brokerages

27 Sep 2024, 23:30 by Danessa Lincoln · The Markets Daily

Kellanova (NYSE:K – Get Free Report) has received a consensus rating of “Hold” from the fifteen brokerages that are covering the stock, MarketBeat reports. Thirteen research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $74.32.

Several research firms recently weighed in on K. Royal Bank of Canada cut Kellanova from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. JPMorgan Chase & Co. upped their price target on Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Barclays raised their price objective on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. StockNews.com initiated coverage on shares of Kellanova in a report on Wednesday. They issued a “hold” rating for the company. Finally, Stifel Nicolaus boosted their price objective on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, August 12th.

Get Our Latest Stock Analysis on Kellanova

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $56.14, for a total transaction of $4,367,692.00. Following the transaction, the insider now owns 51,142,038 shares in the company, valued at approximately $2,871,114,013.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $56.14, for a total transaction of $4,367,692.00. Following the transaction, the insider now owns 51,142,038 shares of the company’s stock, valued at approximately $2,871,114,013.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, September 9th. The shares were sold at an average price of $80.25, for a total value 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. The disclosure for this sale can be found here. Insiders sold 966,149 shares of company stock valued at $69,866,455 in the last ninety days. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in K. Blue Trust Inc. boosted its position in shares of Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Kellanova by 1.9% in the second quarter. B. Riley Wealth Advisors Inc. now owns 9,810 shares of the company’s stock valued at $566,000 after buying an additional 180 shares during the period. IFG Advisory LLC boosted its holdings in Kellanova by 1.4% during the second quarter. IFG Advisory LLC now owns 13,825 shares of the company’s stock worth $797,000 after buying an additional 189 shares during the last quarter. Eukles Asset Management increased its stake in shares of Kellanova by 0.7% in the 2nd quarter. Eukles Asset Management now owns 26,378 shares of the company’s stock valued at $1,521,000 after acquiring an additional 193 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. raised its position in shares of Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after acquiring an additional 200 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Trading Up 0.1 %

Shares of K stock opened at $80.64 on Friday. Kellanova has a 12 month low of $47.63 and a 12 month high of $80.97. The company has a market cap of $27.57 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. The business’s 50 day moving average is $73.82 and its two-hundred day moving average is $63.62.

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

Kellanova Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were issued a $0.57 dividend. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. Kellanova’s dividend payout ratio is presently 85.39%.

About Kellanova

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