Kellanova (NYSE:K) Given New $62.00 Price Target at TD Cowen

Kellanova (NYSE:K) had its price objective increased by TD Cowen from $57.00 to $62.00 in a research report released on Friday morning, Benzinga reports. They currently have a hold rating on the stock.

Other analysts also recently issued research reports about the company. Barclays boosted their price objective on Kellanova from $55.00 to $60.00 and gave the stock an equal weight rating in a research note on Monday, February 12th. JPMorgan Chase & Co. lifted their price target on shares of Kellanova from $53.00 to $59.00 and gave the stock a neutral rating in a research report on Friday, February 9th. Stifel Nicolaus increased their price objective on Kellanova from $56.00 to $58.00 and gave the company a hold rating in a research report on Thursday, January 25th. Piper Sandler lifted their target price on Kellanova from $59.00 to $60.00 and gave the stock a neutral rating in a report on Monday, February 12th. Finally, StockNews.com lowered Kellanova from a buy rating to a hold rating in a research report on Friday, February 9th. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $62.67.

Kellanova Price Performance

K traded down $0.77 on Friday, reaching $60.51. The company had a trading volume of 4,363,751 shares, compared to its average volume of 3,132,182. The company has a market capitalization of $20.68 billion, a P/E ratio of 22.66, a PEG ratio of 2.35 and a beta of 0.39. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34. The company has a fifty day moving average of $56.15 and a 200-day moving average of $54.52. Kellanova has a one year low of $47.63 and a one year high of $71.53.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the firm posted $1.10 earnings per share. The business’s revenue was down 4.2% on a year-over-year basis. As a group, equities research analysts anticipate that Kellanova will post 3.57 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be paid a $0.56 dividend. The ex-dividend date is Monday, June 3rd. This represents a $2.24 annualized dividend and a yield of 3.70%. Kellanova’s dividend payout ratio is presently 83.90%.

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 Friday, February 9th. The shares were sold at an average price of $53.62, for a total value of $4,171,636.00. Following the transaction, the insider now directly owns 52,698,038 shares of the company’s stock, valued at $2,825,668,797.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 933,600 shares of company stock valued at $51,891,044 in the last quarter. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

A number of hedge funds have recently added to or reduced their stakes in the company. SPC Financial Inc. raised its holdings in Kellanova by 7.3% during the first quarter. SPC Financial Inc. now owns 8,850 shares of the company’s stock valued at $507,000 after buying an additional 604 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Kellanova by 146.7% during the 1st quarter. Larson Financial Group LLC now owns 851 shares of the company’s stock valued at $49,000 after acquiring an additional 506 shares during the last quarter. Easterly Investment Partners LLC bought a new position in shares of Kellanova in the 1st quarter valued at approximately $6,452,000. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Kellanova by 33.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 12,322 shares of the company’s stock worth $706,000 after purchasing an additional 3,102 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in Kellanova during the first quarter worth approximately $143,000. Institutional investors and hedge funds 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.