Kellanova (NYSE:K) PT Lowered to $62.00

Kellanova (NYSE:K) had its target price cut by equities researchers at Bank of America from $64.00 to $62.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s price target points to a potential upside of 9.08% from the stock’s previous close.

K has been the subject of several other research reports. Barclays increased their price target on shares of Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research report on Monday, May 6th. DA Davidson lifted their target price on shares of Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, May 9th. TD Cowen upped their price target on shares of Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $61.85.

Kellanova Stock Down 0.1 %

K opened at $56.84 on Wednesday. The business’s fifty day simple moving average is $59.40 and its 200 day simple moving average is $56.98. Kellanova has a 52 week low of $47.63 and a 52 week high of $68.23. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34. The stock has a market cap of $19.43 billion, a PE ratio of 21.29, a P/E/G ratio of 1.99 and a beta of 0.34.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.10 EPS. As a group, research analysts expect that Kellanova will post 3.62 earnings per share for the current fiscal year.

Insider Activity

In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $60.05, for a total value of $588,490.00. Following the sale, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $57.76, for a total value of $4,493,728.00. Following the sale, the insider now directly owns 51,920,038 shares in the company, valued at approximately $2,998,901,394.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Nicolas Amaya sold 9,800 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $60.05, for a total value of $588,490.00. Following the transaction, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 865,600 shares of company stock worth $50,838,732. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

A number of large investors have recently modified their holdings of K. Zhang Financial LLC boosted its position in Kellanova by 0.8% in the 1st quarter. Zhang Financial LLC now owns 21,318 shares of the company’s stock valued at $1,221,000 after buying an additional 176 shares during the period. Naples Global Advisors LLC grew its stake in Kellanova by 1.7% during the fourth quarter. Naples Global Advisors LLC now owns 11,696 shares of the company’s stock worth $654,000 after buying an additional 200 shares during the period. Bfsg LLC grew its holdings in Kellanova by 64.5% during the 1st quarter. Bfsg LLC now owns 510 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. Financial Advisors Network Inc. raised its holdings in Kellanova by 4.2% in the fourth quarter. Financial Advisors Network Inc. now owns 5,040 shares of the company’s stock valued at $282,000 after acquiring an additional 204 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after purchasing an additional 206 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

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.