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

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

K has been the subject of a number of other reports. Bank of America raised shares of Kellanova from a “neutral” rating to a “buy” rating and increased their price objective for the company from $62.00 to $70.00 in a report on Friday, August 2nd. DA Davidson cut shares of Kellanova from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $76.00 to $83.50 in a report on Thursday, August 15th. Stifel Nicolaus lifted their target price on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. increased their price target on Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Sixteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $74.96.

Kellanova Trading Up 0.3 %

Shares of K stock opened at $80.86 on Monday. Kellanova has a 52-week low of $50.81 and a 52-week high of $81.26. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The firm has a market capitalization of $27.87 billion, a PE ratio of 27.79, a PEG ratio of 2.56 and a beta of 0.39. The stock has a fifty day simple moving average of $80.64 and a two-hundred day simple moving average of $68.70.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 earnings per share. On average, analysts predict that Kellanova will post 3.74 EPS for the current fiscal year.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the completion of the transaction, the insider now owns 49,680,774 shares in the company, valued at $4,012,219,308.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $80.76, for a total value of $9,253,723.08. Following the transaction, the insider now directly owns 49,680,774 shares in the company, valued at approximately $4,012,219,308.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the sale, the insider now owns 50,597,438 shares of the company’s stock, valued at $4,079,165,451.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,150,064 shares of company stock valued at $92,680,265. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in Kellanova by 11.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock worth $150,909,000 after acquiring an additional 277,171 shares during the period. Yacktman Asset Management LP boosted its stake in shares of Kellanova by 0.5% during the second quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock valued at $123,546,000 after purchasing an additional 10,510 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of Kellanova by 766.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock valued at $108,532,000 after purchasing an additional 1,664,461 shares in the last quarter. Maverick Capital Ltd. purchased a new position in Kellanova during the second quarter valued at approximately $88,065,000. Finally, TD Asset Management Inc raised its stake in Kellanova by 3.0% in the second quarter. TD Asset Management Inc now owns 1,391,196 shares of the company’s stock worth $80,244,000 after buying an additional 40,406 shares in 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.