Kellanova (NYSE:K) Coverage Initiated at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Kellanova (NYSE:K) in a report issued on Thursday. The brokerage set a “hold” rating on the stock.

Other equities research analysts have also issued research reports about the company. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BNP Paribas lowered 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. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Kellanova currently has an average rating of “Hold” and a consensus price target of $76.35.

Kellanova Price Performance

Shares of K opened at $81.70 on Thursday. Kellanova has a twelve month low of $52.46 and a twelve month high of $81.82. The stock’s 50 day moving average is $80.98 and its two-hundred day moving average is $77.04. The firm has a market capitalization of $28.16 billion, a PE ratio of 28.07, a P/E/G ratio of 2.50 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 (NYSE:K) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share 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 company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the company earned $1.03 EPS. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. Research analysts anticipate that Kellanova will post 3.75 earnings per share for the current 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 on Thursday, November 21st. The stock was sold at an average price of $80.99, for a total value of $9,280,077.17. Following the completion of the transaction, the insider now directly owns 49,337,025 shares in the company, valued at approximately $3,995,805,654.75. The trade was a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 1,031,247 shares of company stock worth $83,592,882 in the last ninety days. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of K. American Century Companies Inc. increased its holdings in shares of Kellanova by 14.7% during the 2nd quarter. American Century Companies Inc. now owns 36,893 shares of the company’s stock worth $2,128,000 after buying an additional 4,737 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Kellanova by 2.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 211,081 shares of the company’s stock worth $12,175,000 after buying an additional 4,566 shares during the last quarter. AE Wealth Management LLC acquired a new stake in shares of Kellanova during the 2nd quarter worth $368,000. Sei Investments Co. increased its holdings in shares of Kellanova by 5.3% during the 2nd quarter. Sei Investments Co. now owns 83,392 shares of the company’s stock worth $4,810,000 after buying an additional 4,197 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Kellanova by 8.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 20,250 shares of the company’s stock worth $1,168,000 after buying an additional 1,538 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.