Kellanova (NYSE:K) Downgraded by Argus

05 Oct 2024, 23:25 by Mitch Edgeman · The Markets Daily

Argus downgraded shares of Kellanova (NYSE:K – Free Report) from a buy rating to a hold rating in a research report report published on Wednesday morning, MarketBeat Ratings reports.

Other analysts also recently issued research reports about the company. BNP Paribas upgraded Kellanova from a neutral rating to an outperform rating and set a $74.00 target price on the stock in a research note on Monday, August 5th. JPMorgan Chase & Co. upped their price objective on Kellanova from $66.00 to $69.00 and gave the stock a neutral rating in a research report on Friday, August 2nd. The Goldman Sachs Group started coverage on shares of Kellanova in a report on Monday, August 12th. They set a neutral rating and a $75.00 target price for the company. Evercore ISI raised shares of Kellanova to a hold rating in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Kellanova from $76.00 to $83.50 and gave the company a hold rating in a report on Thursday, August 15th. Fifteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $74.32.

View Our Latest Stock Report on Kellanova

Kellanova Stock Performance

Shares of NYSE K opened at $80.61 on Wednesday. The company has a 50 day simple moving average of $77.02 and a two-hundred day simple moving average of $64.80. The stock has a market cap of $27.56 billion, a price-to-earnings ratio of 30.19, a PEG ratio of 2.59 and a beta of 0.39. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46. Kellanova has a 12 month low of $47.63 and a 12 month high of $81.00.

Kellanova (NYSE:K – Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the company posted $1.25 earnings per share. The firm’s revenue was down 4.7% compared to the same quarter last year. As a group, analysts predict that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.57 per share. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Tuesday, September 3rd. Kellanova’s payout ratio is 85.39%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $56.14, for a total value of $4,367,692.00. Following the transaction, the insider now owns 51,142,038 shares in the company, valued at approximately $2,871,114,013.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $56.14, for a total value of $4,367,692.00. Following the completion of the sale, the insider now owns 51,142,038 shares in the company, valued at approximately $2,871,114,013.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $80.72, for a total value of $9,249,139.76. Following the transaction, the insider now owns 50,139,106 shares in the company, valued at approximately $4,047,228,636.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,080,732 shares of company stock valued at $79,115,595 over the last quarter. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Kellanova

Several large investors have recently added to or reduced their stakes in K. D. E. Shaw & Co. Inc. increased its holdings in shares of Kellanova by 766.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after buying an additional 1,664,461 shares during the last quarter. Maverick Capital Ltd. acquired a new stake in Kellanova during the second quarter worth $88,065,000. Vanguard Group Inc. raised its position in Kellanova by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock valued at $1,797,525,000 after purchasing an additional 1,130,582 shares during the period. Point72 Asset Management L.P. purchased a new stake in Kellanova in the second quarter valued at $63,585,000. Finally, Boston Partners lifted its stake in shares of Kellanova by 117.1% in the 1st quarter. Boston Partners now owns 1,278,079 shares of the company’s stock valued at $73,221,000 after purchasing an additional 689,395 shares during the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Kellanova Company Profile

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