Kellanova (NYSE:K) Receives $76.35 Consensus Target Price from Brokerages

Kellanova (NYSE:K) has earned an average rating of “Hold” from the fifteen analysts that are covering the firm, Marketbeat reports. Fourteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $76.35.

K has been the topic of several research analyst reports. StockNews.com assumed coverage on shares of Kellanova in a research note on Thursday. They set a “hold” rating on the stock. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a research note on Friday, November 1st. Finally, Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $80.64, for a total value of $9,239,973.12. Following the completion of the sale, the insider now owns 48,878,693 shares in the company, valued at $3,941,577,803.52. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 1,031,247 shares of company stock valued at $83,592,882 over the last 90 days. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Kellanova by 5.2% during the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after purchasing an additional 731,273 shares during the last quarter. Geode Capital Management LLC increased its holdings in Kellanova by 3.0% during the third quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock worth $541,052,000 after buying an additional 196,564 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in Kellanova by 766.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after acquiring an additional 1,664,461 shares during the period. Barclays PLC boosted its stake in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Kellanova by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,630,609 shares of the company’s stock valued at $131,606,000 after acquiring an additional 35,268 shares during the last quarter. 83.87% of the stock is owned by institutional investors.

Kellanova Stock Up 0.1 %

Shares of NYSE:K opened at $81.87 on Thursday. Kellanova has a 1 year low of $52.46 and a 1 year high of $81.91. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The business’s 50-day moving average is $81.03 and its 200-day moving average is $77.28. The company has a market capitalization of $28.22 billion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 2.50 and a beta of 0.37.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company’s revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.03 earnings per share. Equities research analysts predict that Kellanova will post 3.75 earnings per share for the current year.

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.