Kellanova (NYSE:K) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Kellanova (NYSE:K) in a research report sent to investors on Friday. The firm issued a hold rating on the stock.

Separately, Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Fourteen analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $77.96.

Kellanova Trading Down 0.0 %

Kellanova stock opened at $82.43 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The stock has a market cap of $28.45 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The stock has a 50-day moving average of $82.24 and a two-hundred day moving average of $81.34. Kellanova has a one year low of $55.01 and a one year high of $83.22.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. On average, research analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

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

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $81.42, for a total value of $9,329,347.86. Following the completion of the transaction, the insider now owns 48,534,944 shares in the company, valued at $3,951,715,140.48. The trade was a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 1,260,413 shares of company stock worth $103,473,032. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Hedge funds have recently bought and sold shares of the business. Stonebridge Financial Group LLC acquired a new position in shares of Kellanova during the 4th quarter worth about $27,000. BankPlus Trust Department purchased a new position in shares of Kellanova in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC purchased a new position in shares of Kellanova in the fourth quarter valued at approximately $32,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Kellanova in the fourth quarter worth approximately $32,000. Finally, First Horizon Advisors Inc. increased its position in shares of Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after purchasing an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

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.