StockNews.com Initiates Coverage on Kellanova (NYSE:K)

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

A number of other research analysts also recently issued reports on K. Barclays lifted their price target on Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a research report on Friday, November 1st. Bank of America raised shares of Kellanova from a “neutral” rating to a “buy” rating and increased their target price for the stock from $62.00 to $70.00 in a research note on Friday, August 2nd. 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 research report on Thursday, August 15th. Finally, Piper Sandler raised their target price on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Kellanova has an average rating of “Hold” and a consensus price target of $76.35.

Kellanova Trading Up 0.2 %

K stock opened at $80.96 on Wednesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The company has a market capitalization of $27.91 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 2.59 and a beta of 0.39. The business has a 50 day simple moving average of $80.76 and a two-hundred day simple moving average of $70.50. Kellanova has a 1-year low of $51.02 and a 1-year high of $81.34.

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

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $80.99, for a total transaction of $9,280,077.17. Following the sale, the insider now owns 49,337,025 shares in the company, valued at approximately $3,995,805,654.75. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 1,109,047 shares of company stock valued at $89,483,556 in the last 90 days. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kellanova

A number of hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. boosted its holdings in Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after purchasing an additional 170 shares during the last quarter. Family Firm Inc. acquired a new position in Kellanova during the second quarter worth about $29,000. CVA Family Office LLC grew its holdings 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 acquiring an additional 307 shares during the period. 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 acquiring an additional 200 shares in the last quarter. Finally, MCF Advisors LLC lifted its holdings in Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after acquiring an additional 137 shares during the last quarter. 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.