Kellanova (NYSE:K) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Kellanova (NYSE:K) in a research report issued to clients and investors on Friday. The firm set a “hold” rating on the stock.

Several other equities analysts also recently commented on the company. Wells Fargo & Company upped their target price on Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Royal Bank of Canada lowered Kellanova from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $76.00 to $83.50 in a report on Thursday, August 15th. Bank of America raised Kellanova from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $62.00 to $70.00 in a report on Friday, August 2nd. The Goldman Sachs Group assumed coverage on shares of Kellanova in a research note on Monday, August 12th. They issued a “neutral” rating and a $75.00 price target on the stock. Finally, DA Davidson lowered shares of 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 research report on Monday, August 26th. Fifteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $74.32.

Kellanova Price Performance

NYSE:K opened at $80.54 on Friday. The stock has a market capitalization of $27.54 billion, a PE ratio of 30.16, a P/E/G ratio of 2.59 and a beta of 0.39. Kellanova has a 1-year low of $47.63 and a 1-year high of $81.00. The firm has a fifty day simple moving average of $78.41 and a 200 day simple moving average of $65.46. 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 (NYSE:K) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. Kellanova’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the company posted $1.25 earnings per share. On average, research analysts expect that Kellanova will post 3.7 EPS for the current fiscal year.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $56.19, for a total transaction of $4,371,582.00. Following the transaction, the insider now directly owns 51,064,238 shares of the company’s stock, valued at approximately $2,869,299,533.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 51,064,238 shares in the company, valued at approximately $2,869,299,533.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $80.57, for a total transaction of $9,231,952.31. Following the sale, the insider now directly owns 50,024,523 shares in the company, valued at $4,030,475,818.11. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,117,515 shares of company stock worth $83,979,855. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

Several hedge funds have recently bought and sold shares of K. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Kellanova by 4.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock valued at $14,705,000 after purchasing an additional 10,676 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Kellanova by 498.7% during the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock worth $15,049,000 after acquiring an additional 217,320 shares during the last quarter. Banque Cantonale Vaudoise grew its stake in shares of Kellanova by 35.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 79,701 shares of the company’s stock worth $4,566,000 after acquiring an additional 20,866 shares in the last quarter. M&G Plc purchased a new stake in shares of Kellanova in the first quarter valued at about $9,346,000. Finally, Atria Investments Inc bought a new position in shares of Kellanova during the first quarter valued at about $1,003,000. Institutional investors and hedge funds 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.