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

StockNews.com assumed coverage on shares of Kellanova (NYSE:K) in a research note published on Sunday morning. The firm issued a hold rating on the stock.

Separately, BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research report on Friday, November 1st. Fourteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Kellanova currently has an average rating of “Hold” and a consensus price target of $77.96.

Kellanova Stock Up 0.1 %

K stock opened at $82.26 on Friday. The business’s 50 day simple moving average is $81.37 and its 200 day simple moving average is $80.02. Kellanova has a 1-year low of $52.46 and a 1-year high of $82.41. The firm has a market capitalization of $28.35 billion, a PE ratio of 21.25, a PEG ratio of 2.53 and a beta of 0.37. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last issued its quarterly earnings data 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 10.53% and a return on equity of 37.25%. As a group, research analysts anticipate that Kellanova will post 3.91 EPS for the current year.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $82.25, for a total value of $9,424,451.75. Following the sale, the insider now owns 48,076,612 shares of the company’s stock, valued at approximately $3,954,301,337. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 1,260,413 shares of company stock valued at $102,571,264 over the last quarter. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Kellanova

Institutional investors and hedge funds have recently modified their holdings of the business. DoubleLine ETF Adviser LP raised its stake in Kellanova by 2.4% during the fourth quarter. DoubleLine ETF Adviser LP now owns 15,374 shares of the company’s stock worth $1,245,000 after acquiring an additional 358 shares in the last quarter. AQR Arbitrage LLC increased its position in Kellanova by 35.0% during the 4th quarter. AQR Arbitrage LLC now owns 366,774 shares of the company’s stock worth $29,676,000 after purchasing an additional 95,057 shares in the last quarter. Nexpoint Asset Management L.P. lifted its stake in Kellanova by 2.9% in the 4th quarter. Nexpoint Asset Management L.P. now owns 345,330 shares of the company’s stock valued at $27,961,000 after purchasing an additional 9,790 shares during the last quarter. Westbourne Investments Inc. acquired a new stake in Kellanova in the fourth quarter valued at approximately $437,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Kellanova by 839.2% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 68,128 shares of the company’s stock worth $5,516,000 after buying an additional 60,874 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

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.