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

Research analysts at StockNews.com began coverage on shares of Kellanova (NYSE:K) in a research report issued to clients and investors on Thursday. The brokerage set a “hold” rating on the stock.

Several other equities analysts also recently weighed in on K. DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. The Goldman Sachs Group assumed coverage on Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 target price on the stock. Stifel Nicolaus lifted their price target on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Wells Fargo & Company increased their price objective on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. lifted their target price on Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Fifteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $76.35.

Kellanova Trading Up 0.0 %

Shares of Kellanova stock opened at $81.15 on Thursday. The stock has a fifty day moving average price of $80.80 and a 200-day moving average price of $71.12. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The firm has a market cap of $27.97 billion, a PE ratio of 27.89, a P/E/G ratio of 2.61 and a beta of 0.39. Kellanova has a 1 year low of $51.02 and a 1 year high of $81.34.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the company posted $1.03 earnings per share. Equities research analysts anticipate that Kellanova will post 3.74 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 Kellanova stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $80.99, for a total transaction of $9,280,077.17. Following the transaction, the insider now directly owns 49,337,025 shares of the company’s stock, valued at approximately $3,995,805,654.75. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 1,031,247 shares of company stock valued at $83,211,320 over the last 90 days. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Kellanova

Several institutional investors and hedge funds have recently made changes to their positions in K. Price T Rowe Associates Inc. MD increased its stake in Kellanova by 1.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 356,803 shares of the company’s stock worth $20,443,000 after purchasing an additional 4,263 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in Kellanova by 3.2% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,630 shares of the company’s stock valued at $573,000 after buying an additional 303 shares during the last quarter. Tidal Investments LLC boosted its position in Kellanova by 36.7% during the 1st quarter. Tidal Investments LLC now owns 37,451 shares of the company’s stock valued at $2,145,000 after buying an additional 10,051 shares during the period. Swedbank AB bought a new stake in Kellanova in the 1st quarter worth $13,069,000. Finally, Atria Investments Inc purchased a new position in shares of Kellanova in the first quarter valued at about $1,003,000. 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.