Kellanova (NYSE:K) Sets New 52-Week High – What’s Next?

Kellanova (NYSE:K) hit a new 52-week high during trading on Tuesday . The company traded as high as $83.22 and last traded at $82.62, with a volume of 492982 shares changing hands. The stock had previously closed at $82.61.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on K shares. StockNews.com started coverage on shares of Kellanova in a research report on Tuesday. They set a “hold” rating on the stock. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price on the stock in a report on Tuesday, February 18th. Thirteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $77.96.

Kellanova Price Performance

The stock has a 50-day simple moving average of $81.81 and a 200 day simple moving average of $81.08. The company has a market cap of $28.48 billion, a PE ratio of 21.32, a P/E/G ratio of 4.21 and a beta of 0.37. 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 released its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Equities analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Monday, March 3rd. Kellanova’s payout ratio is 58.91%.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $82.70, for a total transaction of $9,476,014.10. Following the sale, the insider now directly owns 47,847,446 shares of the company’s stock, valued at $3,956,983,784.20. This represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 1,145,830 shares of company stock worth $93,461,916 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

Large investors have recently modified their holdings of the stock. Toronto Dominion Bank increased its stake in shares of Kellanova by 5.1% during the third quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after buying an additional 8,686 shares during the period. Principal Financial Group Inc. grew its holdings in Kellanova by 6.9% during the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after acquiring an additional 24,067 shares in the last quarter. Wedmont Private Capital purchased a new stake in shares of Kellanova in the 4th quarter valued at approximately $384,000. Barclays PLC raised its holdings in shares of Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after purchasing an additional 1,033,383 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Kellanova during the 3rd quarter worth $4,211,000. 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.