Kellanova (NYSE:K) Now Covered by StockNews.com

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

A number of other brokerages have also recently issued reports on K. Barclays boosted their price objective on Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Wells Fargo & Company upped their price target on shares of Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Piper Sandler lifted their price objective on shares of Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. boosted their target price on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Bank of America raised Kellanova from a “neutral” rating to a “buy” rating and raised their price target for the stock from $62.00 to $70.00 in a report on Friday, August 2nd. Fifteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $74.32.

Kellanova Stock Performance

Shares of K stock opened at $80.54 on Friday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. The firm has a market cap of $27.54 billion, a price-to-earnings ratio of 30.16, a P/E/G ratio of 2.59 and a beta of 0.39. Kellanova has a 52 week low of $47.63 and a 52 week high of $81.00. The firm’s 50-day simple moving average is $78.41 and its two-hundred day simple moving average is $65.46.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the business posted $1.25 EPS. Kellanova’s quarterly revenue was down 4.7% compared to the same quarter last year. As a group, equities analysts forecast that Kellanova will post 3.7 earnings per share for the current year.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $80.57, for a total value of $9,231,952.31. Following the transaction, the insider now owns 50,024,523 shares in the company, valued at approximately $4,030,475,818.11. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $57.67, for a total transaction of $4,486,726.00. Following the transaction, the insider now owns 50,986,438 shares in the company, valued at $2,940,387,879.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $80.57, for a total value of $9,231,952.31. Following the transaction, the insider now directly owns 50,024,523 shares of the company’s stock, valued at $4,030,475,818.11. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,117,515 shares of company stock valued at $83,979,855. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Hedge funds have recently made changes to their positions in the business. Optimist Retirement Group LLC bought a new position in Kellanova in the fourth quarter worth $518,000. V Square Quantitative Management LLC lifted its position in Kellanova by 22.3% during the 4th quarter. V Square Quantitative Management LLC now owns 6,243 shares of the company’s stock valued at $349,000 after acquiring an additional 1,137 shares during the period. Neo Ivy Capital Management bought a new stake in Kellanova during the fourth quarter worth about $199,000. Integrated Advisors Network LLC boosted its stake in Kellanova by 66.0% during the fourth quarter. Integrated Advisors Network LLC now owns 7,539 shares of the company’s stock worth $422,000 after acquiring an additional 2,997 shares in the last quarter. Finally, Syon Capital LLC purchased a new stake in Kellanova in the fourth quarter worth about $327,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

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.