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

Equities research analysts at StockNews.com initiated coverage on shares of Kellanova (NYSE:K) in a research note issued to investors on Wednesday. The brokerage set a “hold” rating on the stock.

A number of other research analysts have also weighed in on the stock. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research note on Friday, November 1st. DA Davidson downgraded Kellanova from a “buy” rating to a “neutral” rating and lifted their price target for the company from $80.00 to $83.50 in a research note on Monday, August 26th. Argus cut Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Barclays increased their price objective on Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Finally, Stifel Nicolaus boosted their target price on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $76.35.

Kellanova Price Performance

Shares of K stock opened at $80.50 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Kellanova has a 12-month low of $51.02 and a 12-month high of $81.34. The firm has a fifty day moving average of $80.73 and a 200-day moving average of $70.29. The firm has a market capitalization of $27.75 billion, a price-to-earnings ratio of 27.66, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K) last posted 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 return on equity of 37.05% and a net margin of 7.85%. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. The company’s revenue was down .7% on a year-over-year basis. On average, equities research analysts forecast that Kellanova will post 3.74 earnings per share for the current year.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the sale, the insider now owns 50,482,855 shares in the company, valued at approximately $4,051,249,113.75. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 994,464 shares of company stock valued at $80,203,479 in the last quarter. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swedbank AB lifted its position in Kellanova by 20.5% during the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after acquiring an additional 46,450 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Kellanova by 4.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock worth $14,705,000 after buying an additional 10,676 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Kellanova by 498.7% in the second quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock valued at $15,049,000 after acquiring an additional 217,320 shares during the period. Atria Investments Inc bought a new stake in shares of Kellanova in the first quarter valued at about $1,003,000. Finally, Principal Financial Group Inc. grew its stake in shares of Kellanova by 6.9% in the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after acquiring an additional 24,067 shares in the last quarter. 83.87% of the stock is owned by 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.