Kellanova (NYSE:K) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com began coverage on shares of Kellanova (NYSE:K) in a research note issued on Thursday. The brokerage set a “hold” rating on the stock.

A number of other brokerages have also recently commented on K. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Friday, November 1st. Argus cut Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Kellanova currently has an average rating of “Hold” and an average price target of $76.35.

Kellanova Trading Up 0.0 %

K opened at $81.70 on Thursday. The stock’s fifty day moving average is $80.98 and its two-hundred day moving average is $77.04. The company has a market capitalization of $28.16 billion, a P/E ratio of 28.07, a PEG ratio of 2.50 and a beta of 0.37. Kellanova has a 52 week low of $52.46 and a 52 week high of $81.82. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $3.23 billion for 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 business’s revenue was down .7% compared to the same quarter last year. During the same period last year, the business posted $1.03 EPS. Analysts forecast that Kellanova will post 3.75 earnings per share for the current year.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $81.69, for a total value of $9,360,285.27. Following the completion of the transaction, the insider now directly owns 48,420,361 shares in the company, valued at approximately $3,955,459,290.09. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 1,031,247 shares of company stock worth $83,592,882 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

Hedge funds and other institutional investors have recently bought and sold shares of the business. Swedbank AB increased its position in shares of Kellanova by 20.5% during the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after purchasing an additional 46,450 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Kellanova by 5.1% during the third quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after buying an additional 8,686 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Kellanova by 6.9% during the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after buying an additional 24,067 shares during the last quarter. Wedmont Private Capital purchased a new position in shares of Kellanova during the fourth quarter worth about $384,000. Finally, Barclays PLC grew its holdings in shares of Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after buying an additional 1,033,383 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

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.