Kellanova (NYSE:K) Hits New 1-Year High – Should You Buy?

Kellanova (NYSE:K) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $81.27 and last traded at $81.23, with a volume of 192044 shares changing hands. The stock had previously closed at $81.10.

Analyst Ratings Changes

A number of brokerages have commented on K. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price target on Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. DA Davidson cut Kellanova from a “buy” rating to a “neutral” rating and upped their price target for the company from $80.00 to $83.50 in a research report on Monday, August 26th. Finally, Royal Bank of Canada lowered Kellanova from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $76.00 to $83.50 in a research note on Thursday, August 15th. Fifteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Kellanova has an average rating of “Hold” and an average target price of $76.35.

Kellanova Trading Down 0.1 %

The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The stock has a market cap of $27.93 billion, a PE ratio of 27.87, a PEG ratio of 2.60 and a beta of 0.39. The firm has a fifty day simple moving average of $80.66 and a two-hundred day simple moving average of $69.34.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 earnings per share. As a group, equities analysts expect that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.57 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. Kellanova’s dividend payout ratio (DPR) is 78.35%.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $80.32, for a total transaction of $6,248,896.00. Following the completion of the sale, the insider now directly owns 50,675,238 shares of the company’s stock, valued at $4,070,235,116.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $80.32, for a total transaction of $6,248,896.00. Following the transaction, the insider now owns 50,675,238 shares of the company’s stock, valued at $4,070,235,116.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 16th. The stock was sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the transaction, the insider now directly owns 50,368,272 shares of the company’s stock, valued at approximately $4,062,201,136.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,150,064 shares of company stock valued at $92,680,265 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Large investors have recently bought and sold shares of the business. Cerity Partners LLC boosted its position in shares of Kellanova by 3.5% during the third quarter. Cerity Partners LLC now owns 197,355 shares of the company’s stock worth $15,928,000 after buying an additional 6,685 shares during the period. Biltmore Family Office LLC raised its holdings in shares of Kellanova by 4.3% during the third quarter. Biltmore Family Office LLC now owns 7,304 shares of the company’s stock valued at $590,000 after buying an additional 304 shares during the last quarter. CFS Investment Advisory Services LLC acquired a new position in Kellanova in the third quarter worth approximately $203,000. Citigroup Inc. boosted its stake in shares of Kellanova by 1.3% during the 3rd quarter. Citigroup Inc. now owns 323,619 shares of the company’s stock valued at $26,119,000 after buying an additional 4,239 shares during the period. Finally, Investors Research Corp lifted its position in Kellanova by 1.0% during the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company’s stock worth $1,049,000 after acquiring an additional 125 shares during 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.