Kellanova (NYSE:K) Price Target Increased to $66.00 by Analysts at JPMorgan Chase & Co.

Kellanova (NYSE:K) had its price target hoisted by JPMorgan Chase & Co. from $59.00 to $66.00 in a report issued on Friday, Benzinga reports. They currently have a neutral rating on the stock.

K has been the subject of a number of other research reports. Wells Fargo & Company boosted their target price on Kellanova from $56.00 to $58.00 and gave the stock an equal weight rating in a research report on Friday, February 9th. Barclays boosted their price target on shares of Kellanova from $55.00 to $60.00 and gave the stock an equal weight rating in a research note on Monday, February 12th. Stifel Nicolaus upped their price target on shares of Kellanova from $56.00 to $58.00 and gave the company a hold rating in a research report on Thursday, January 25th. DA Davidson assumed coverage on Kellanova in a report on Friday, March 1st. They issued a buy rating and a $67.00 price objective on the stock. Finally, StockNews.com cut Kellanova from a buy rating to a hold rating in a report on Friday, February 9th. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Kellanova has a consensus rating of Hold and an average target price of $62.67.

Kellanova Stock Performance

Shares of NYSE K traded down $0.77 during trading on Friday, reaching $60.51. 4,363,751 shares of the stock traded hands, compared to its average volume of 3,132,182. The company has a 50-day moving average of $56.15 and a 200-day moving average of $54.52. Kellanova has a 52-week low of $47.63 and a 52-week high of $71.53. The stock has a market capitalization of $20.68 billion, a P/E ratio of 22.66, a price-to-earnings-growth ratio of 2.35 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41.

Kellanova (NYSE:K) last issued its earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The firm’s revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.10 EPS. Analysts forecast that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Dividend Announcement

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

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $53.62, for a total transaction of $4,171,636.00. Following the completion of the sale, the insider now directly owns 52,698,038 shares in the company, valued at approximately $2,825,668,797.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 933,600 shares of company stock worth $51,891,044. 1.80% of the stock is owned by insiders.

Institutional Trading of Kellanova

Several institutional investors have recently added to or reduced their stakes in the company. Oakworth Capital Inc. lifted its holdings in Kellanova by 491.3% during the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after buying an additional 393 shares during the period. Bfsg LLC boosted its position in Kellanova by 64.5% during the first quarter. Bfsg LLC now owns 510 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. Baker Avenue Asset Management LP boosted its stake in Kellanova by 205.4% in the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after acquiring an additional 341 shares in the last quarter. BNP Paribas purchased a new position in Kellanova in the first quarter worth $30,000. Finally, Motco increased its position in shares of Kellanova by 757.6% during the fourth quarter. Motco now owns 566 shares of the company’s stock worth $32,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

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.