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

StockNews.com started coverage on shares of Kellanova (NYSE:K) in a research report issued on Friday. The firm set a “hold” rating on the stock.

Separately, Royal Bank of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Fourteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Kellanova currently has an average rating of “Hold” and a consensus price target of $77.96.

Kellanova Stock Performance

NYSE:K opened at $82.47 on Friday. Kellanova has a 12 month low of $55.01 and a 12 month high of $83.22. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The firm has a market capitalization of $28.47 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The business’s fifty day moving average price is $82.22 and its 200 day moving average price is $81.31.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.92 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%. On average, sell-side analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $81.28, for a total transaction of $9,313,306.24. Following the completion of the sale, the insider now directly owns 48,649,527 shares of the company’s stock, valued at $3,954,233,554.56. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have sold 1,260,413 shares of company stock worth $103,290,845. 1.80% of the stock is owned by company insiders.

Institutional Trading of Kellanova

Several hedge funds have recently made changes to their positions in K. Stonebridge Financial Group LLC purchased a new position in Kellanova during the fourth quarter worth about $27,000. BankPlus Trust Department acquired a new position in Kellanova during the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC purchased a new position in shares of Kellanova during the 4th quarter worth approximately $32,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Kellanova in the 4th quarter valued at approximately $32,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after buying an additional 173 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.