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

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

Other equities analysts also recently issued research reports about the company. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research report on Friday, November 1st. DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and upped their price target for the company from $80.00 to $83.50 in a research note on Monday, August 26th. Finally, Argus cut Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $76.35.

Kellanova Trading Up 0.2 %

NYSE K opened at $80.50 on Friday. Kellanova has a one year low of $52.46 and a one year high of $81.34. 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 firm has a market cap of $27.75 billion, a P/E ratio of 27.66, a P/E/G ratio of 2.59 and a beta of 0.38. The stock’s 50-day moving average is $80.81 and its 200-day moving average is $73.37.

Kellanova (NYSE:K) last released its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS. Sell-side analysts anticipate 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 company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $80.72, for a total value of $9,249,139.76. Following the sale, the insider now owns 50,139,106 shares in the company, valued at approximately $4,047,228,636.32. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 1,031,247 shares of company stock valued at $83,327,049 over the last quarter. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kellanova

Several hedge funds and other institutional investors have recently bought and sold shares of K. CVA Family Office LLC grew its position in shares of 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 buying an additional 307 shares during the period. MCF Advisors LLC boosted its stake in Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after acquiring an additional 137 shares in the last quarter. Blue Trust Inc. grew its holdings in Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares during the period. Newbridge Financial Services Group Inc. increased its stake in Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. Finally, Capital Advisors Ltd. LLC raised its holdings in shares of Kellanova by 41.4% during the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after purchasing an additional 158 shares during the period. Institutional investors and hedge funds 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.