Kellanova (NYSE:K) Earns Hold Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of Kellanova (NYSE:K) in a report issued on Wednesday. The brokerage set a “hold” rating on the stock.

Other equities analysts have also issued research reports about the stock. Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas cut 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. Fifteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $76.35.

Kellanova Stock Performance

NYSE:K opened at $81.40 on Wednesday. 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 stock has a 50 day simple moving average of $80.92 and a 200 day simple moving average of $76.17. Kellanova has a 1-year low of $52.46 and a 1-year high of $81.58. The stock has a market cap of $28.06 billion, a P/E ratio of 27.97, a PEG ratio of 2.59 and a beta of 0.37.

Kellanova (NYSE:K) last released its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.03 EPS. Research analysts anticipate that Kellanova will post 3.74 earnings per share for the current year.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.96, for a total value of $9,276,639.68. Following the transaction, the insider now directly owns 49,795,357 shares of the company’s stock, valued at approximately $4,031,432,102.72. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 1,031,247 shares of company stock valued at $83,509,236. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. American Century Companies Inc. boosted its stake in Kellanova by 14.7% in the 2nd quarter. American Century Companies Inc. now owns 36,893 shares of the company’s stock worth $2,128,000 after purchasing an additional 4,737 shares during the period. Envestnet Asset Management Inc. increased its holdings in Kellanova by 2.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 211,081 shares of the company’s stock valued at $12,175,000 after acquiring an additional 4,566 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Kellanova by 11.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock worth $150,909,000 after purchasing an additional 277,171 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Kellanova by 15.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 46,285 shares of the company’s stock valued at $2,669,000 after purchasing an additional 6,252 shares during the last quarter. Finally, Waterloo Capital L.P. bought a new stake in shares of Kellanova in the second quarter worth about $1,651,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

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.