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

Analysts at StockNews.com started coverage on shares of Kellanova (NYSE:K) in a note issued to investors on Wednesday. The firm set a “hold” rating on the stock.

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

Kellanova Trading Down 0.1 %

Shares of K opened at $81.40 on Wednesday. The company’s fifty day simple moving average is $80.92 and its 200-day simple moving average is $76.17. The company has a market cap of $28.06 billion, a P/E ratio of 27.97, a P/E/G ratio of 2.59 and a beta of 0.37. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. Kellanova has a twelve month low of $52.46 and a twelve month high of $81.58.

Kellanova (NYSE:K) last issued its 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. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. The business’s revenue was down .7% on a year-over-year basis. As a group, analysts expect that Kellanova will post 3.74 EPS for the current year.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova 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 sale, the insider now directly owns 49,795,357 shares of the company’s stock, valued at $4,031,432,102.72. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 1,031,247 shares of company stock worth $83,509,236 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in K. CVA Family Office LLC raised its stake in shares of Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after acquiring an additional 307 shares during the period. Newbridge Financial Services Group Inc. grew its stake in Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. MCF Advisors LLC raised its position in Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after purchasing an additional 137 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in Kellanova by 41.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after acquiring an additional 158 shares in the last quarter. Finally, Mather Group LLC. lifted its holdings in Kellanova by 71.3% during the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after buying an additional 256 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

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.