Kellanova (NYSE:K) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Kellanova (NYSE:K) in a research note issued on Saturday. The brokerage set a “hold” rating on the stock.

A number of other equities research analysts have also recently commented on the stock. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Friday, November 1st. Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, DA Davidson downgraded Kellanova from a “buy” rating to a “neutral” rating and lifted their target price for the company from $80.00 to $83.50 in a research note on Monday, August 26th. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $76.35.

Kellanova Price Performance

Shares of NYSE:K opened at $80.58 on Friday. Kellanova has a 12 month low of $52.46 and a 12 month high of $81.34. The firm has a market capitalization of $27.78 billion, a P/E ratio of 27.69, a P/E/G ratio of 2.59 and a beta of 0.38. 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’s fifty day moving average price is $80.82 and its 200 day moving average price is $72.51.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 EPS. As a group, sell-side analysts predict that Kellanova will post 3.74 earnings per share for the current fiscal year.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the sale, the insider now directly owns 50,368,272 shares in the company, valued at approximately $4,062,201,136.80. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 1,145,830 shares of company stock worth $92,568,168 in the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. CVA Family Office LLC increased its position in Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after purchasing an additional 307 shares in the last quarter. MCF Advisors LLC grew its holdings in shares of Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares in the last quarter. Blue Trust Inc. raised its position in shares of 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 buying an additional 170 shares during the last quarter. Family Firm Inc. purchased a new position in shares of Kellanova during the second quarter valued at approximately $29,000. Finally, Newbridge Financial Services Group Inc. boosted its position in Kellanova by 61.9% during 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 during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

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.