Kellanova (NYSE:K) Sets New 52-Week High – Time to Buy?

Kellanova (NYSE:K)’s share price hit a new 52-week high on Tuesday . The company traded as high as $81.27 and last traded at $81.23, with a volume of 192044 shares. The stock had previously closed at $81.10.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on K. DA Davidson downgraded Kellanova from a “buy” rating to a “neutral” rating and raised their price target for the stock from $80.00 to $83.50 in a report on Monday, August 26th. BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a report on Friday, November 1st. The Goldman Sachs Group assumed coverage on shares of Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price objective on the stock. Barclays boosted their target price on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Finally, StockNews.com started coverage on shares of Kellanova in a research note on Tuesday. They issued a “hold” rating on the stock. Fifteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $76.35.

Kellanova Price Performance

The stock has a market capitalization of $27.98 billion, a price-to-earnings ratio of 27.90, a P/E/G ratio of 2.60 and a beta of 0.39. The business has a 50-day simple moving average of $80.69 and a two-hundred day simple moving average of $69.67. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

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

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a $0.57 dividend. 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 is currently 78.35%.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $80.62, for a total value of $6,272,236.00. Following the completion of the sale, the insider now owns 50,597,438 shares in the company, valued at approximately $4,079,165,451.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the completion of the sale, the insider now owns 49,680,774 shares of the company’s stock, valued at $4,012,219,308.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the sale, the insider now owns 50,597,438 shares of the company’s stock, valued at $4,079,165,451.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,072,264 shares of company stock worth $86,452,375. Insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

Institutional investors and hedge funds have recently modified their holdings of the company. CVA Family Office LLC boosted its stake in Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after buying an additional 307 shares in the last quarter. MCF Advisors LLC lifted its holdings in shares of Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after acquiring an additional 137 shares during the period. Blue Trust Inc. boosted its position in shares of Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after acquiring an additional 170 shares in the last quarter. Family Firm Inc. bought a new stake in Kellanova in the second quarter valued at about $29,000. Finally, Newbridge Financial Services Group Inc. raised its position in Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors.

About Kellanova

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.