Kellanova (NYSE:K) Upgraded by Royal Bank of Canada to “Outperform” Rating

Royal Bank of Canada upgraded shares of Kellanova (NYSE:K) from a sector perform rating to an outperform rating in a report published on Tuesday, Marketbeat.com reports. They currently have $83.50 price objective on the stock.

Other equities analysts also recently issued 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. StockNews.com started coverage on shares of Kellanova in a research note on Sunday. They set a “hold” rating for the company. Thirteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Kellanova has an average rating of “Hold” and a consensus price target of $77.96.

Kellanova Stock Up 0.1 %

NYSE K opened at $82.34 on Tuesday. The stock has a 50 day moving average price of $81.40 and a 200-day moving average price of $80.35. Kellanova has a one year low of $52.46 and a one year high of $82.41. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.53 and a current ratio of 0.81. The company has a market capitalization of $28.38 billion, a P/E ratio of 21.28, a P/E/G ratio of 2.53 and a beta of 0.37.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, equities analysts predict that Kellanova will post 3.91 EPS for the current fiscal year.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were 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 owns 49,222,442 shares in the company, valued at $3,997,354,514.82. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders have sold 1,260,413 shares of company stock valued at $102,571,264. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Kellanova

Several institutional investors have recently modified their holdings of K. Stonebridge Financial Group LLC acquired a new stake in shares of Kellanova in the 4th quarter valued at approximately $27,000. BankPlus Trust Department acquired a new stake in Kellanova in the fourth quarter valued at $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Kellanova during the 4th quarter worth $32,000. Flagship Wealth Advisors LLC acquired a new position in shares of Kellanova during the 4th quarter worth $32,000. Finally, MCF Advisors LLC increased its holdings in shares of Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after purchasing an additional 137 shares in the last quarter. Hedge funds and other 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.