Kellanova (NYSE:K) Earns Hold Rating from Analysts at StockNews.com

Investment analysts at StockNews.com began coverage on shares of Kellanova (NYSE:K) in a research note issued on Thursday. The firm set a “hold” rating on the stock.

Several other brokerages have also issued reports on K. Evercore ISI upgraded Kellanova to a “hold” rating in a report on Friday, August 2nd. BNP Paribas upgraded shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 target price for the company in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research report on Thursday, August 15th. DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and raised their price target for the company from $80.00 to $83.50 in a report on Monday, August 26th. Finally, Wells Fargo & Company upped their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Fifteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $74.32.

Kellanova Trading Down 0.1 %

NYSE K opened at $80.59 on Thursday. The firm’s 50 day moving average price is $76.09 and its two-hundred day moving average price is $64.57. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. Kellanova has a twelve month low of $47.63 and a twelve month high of $81.00. The stock has a market cap of $27.55 billion, a price-to-earnings ratio of 30.18, a PEG ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period last year, the company posted $1.25 EPS. Equities analysts anticipate that Kellanova will post 3.7 EPS for the current year.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $56.19, for a total transaction of $4,371,582.00. Following the sale, the insider now directly owns 51,064,238 shares of the company’s stock, valued at $2,869,299,533.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $56.19, for a total value of $4,371,582.00. Following the completion of the transaction, the insider now directly owns 51,064,238 shares of the company’s stock, valued at $2,869,299,533.22. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the transaction, the insider now owns 50,482,855 shares in the company, valued at $4,051,249,113.75. The disclosure for this sale can be found here. Insiders sold 1,080,732 shares of company stock worth $79,115,595 over the last three months. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kellanova

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. D. E. Shaw & Co. Inc. boosted its position in shares of Kellanova by 766.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after purchasing an additional 1,664,461 shares in the last quarter. Maverick Capital Ltd. bought a new position in Kellanova during the second quarter worth about $88,065,000. Vanguard Group Inc. grew its stake 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 acquiring an additional 1,130,582 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Kellanova in the second quarter worth about $63,585,000. Finally, Boston Partners raised its position in shares of Kellanova by 117.1% during the first quarter. Boston Partners now owns 1,278,079 shares of the company’s stock worth $73,221,000 after purchasing an additional 689,395 shares during the period. 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.