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

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

Separately, BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a research note on Friday, November 1st. Fourteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $77.96.

Kellanova Stock Performance

Shares of Kellanova stock opened at $82.29 on Friday. The firm has a market capitalization of $28.37 billion, a P/E ratio of 28.28, a price-to-earnings-growth ratio of 2.51 and a beta of 0.37. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The business’s fifty day simple moving average is $81.20 and its 200 day simple moving average is $78.97. Kellanova has a 12 month low of $52.46 and a 12 month high of $82.31.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. As a group, analysts anticipate that Kellanova will post 3.75 EPS for the current year.

Insider Activity

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 Tuesday, January 28th. The shares were sold at an average price of $81.91, for a total value of $9,385,493.53. Following the sale, the insider now directly owns 48,305,778 shares of the company’s stock, valued at $3,956,726,275.98. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 1,031,247 shares of company stock worth $83,724,652 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

A number of institutional investors have recently made changes to their positions in the stock. State Street Corp raised its holdings in shares of Kellanova by 5.2% during the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after buying an additional 731,273 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Kellanova by 3.0% during the third quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock worth $541,052,000 after acquiring an additional 196,564 shares in the last quarter. Barclays PLC lifted its holdings in shares of Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after acquiring an additional 1,033,383 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Kellanova by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,680,912 shares of the company’s stock worth $136,103,000 after acquiring an additional 50,303 shares during the last quarter. Finally, Ilex Capital Partners UK LLP boosted its stake in shares of Kellanova by 63.8% in the 3rd quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock valued at $131,091,000 after purchasing an additional 632,510 shares in the last quarter. Institutional investors 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.