Analysts at StockNews.com assumed coverage on shares of Kellanova (NYSE:K – Get Free Report) in a note issued to investors on Friday. The brokerage set a “hold” rating on the stock.
Separately, BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research report on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $76.35.
Check Out Our Latest Research Report on K
Kellanova Stock Performance
Kellanova (NYSE:K – Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share 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 analyst estimates of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the business earned $1.03 earnings per share. On average, analysts expect that Kellanova will post 3.75 earnings per share for the current year.
Insider Activity at Kellanova
In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the completion of the transaction, the insider now directly owns 49,222,442 shares in the company, valued at $3,997,354,514.82. 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 is available through the SEC website. Insiders have sold 1,031,247 shares of company stock worth $83,724,652 over the last ninety days. 1.80% of the stock is owned by corporate insiders.
Institutional Trading of Kellanova
Several institutional investors have recently added to or reduced their stakes in K. Stonebridge Financial Group LLC bought a new position in Kellanova during the fourth quarter valued at approximately $27,000. CVA Family Office LLC lifted its holdings in shares of Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after buying an additional 307 shares during the period. Newbridge Financial Services Group Inc. boosted its stake in shares of Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after buying an additional 200 shares during the last quarter. MCF Advisors LLC boosted its stake in shares of Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares during the last quarter. Finally, Capital Advisors Ltd. LLC grew its holdings in shares of Kellanova by 41.4% in the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after acquiring an additional 158 shares during the period. 83.87% of the stock is currently 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.
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