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 research report issued on Wednesday. The brokerage set a “hold” rating on the stock.

Separately, Royal Bank of Canada raised shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price on the stock in a report on Tuesday, February 18th. Thirteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $77.96.

Kellanova Price Performance

Shares of NYSE:K opened at $82.28 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. Kellanova has a 1-year low of $52.46 and a 1-year high of $83.22. The company has a market capitalization of $28.41 billion, a P/E ratio of 21.26, a P/E/G ratio of 4.21 and a beta of 0.31. The firm’s 50 day simple moving average is $81.98 and its two-hundred day simple moving average is $81.16.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Research analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Insider Activity 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 on Monday, December 30th. The shares were sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the transaction, the insider now owns 48,764,110 shares in the company, valued at $3,942,578,293.50. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 1,145,830 shares of company stock valued at $93,673,894 over the last 90 days. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Stonebridge Financial Group LLC bought a new position in shares of Kellanova in the fourth quarter worth about $27,000. BankPlus Trust Department bought a new position in shares of Kellanova in the fourth quarter worth about $28,000. Rialto Wealth Management LLC bought a new position in shares of Kellanova in the fourth quarter worth about $32,000. Flagship Wealth Advisors LLC bought a new position in shares of Kellanova in the fourth quarter worth about $32,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after purchasing an additional 173 shares during the last quarter. 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.