StockNews.com Begins Coverage on Kellanova (NYSE:K)

Analysts at StockNews.com assumed coverage on shares of Kellanova (NYSE:K) in a research note issued on Friday. The brokerage set a “hold” rating on the stock.

Separately, BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a report on Friday, November 1st. Fourteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Kellanova currently has an average rating of “Hold” and a consensus target price of $77.96.

Kellanova Stock Performance

K opened at $81.74 on Friday. The stock has a market cap of $28.18 billion, a PE ratio of 28.09, a P/E/G ratio of 2.51 and a beta of 0.37. Kellanova has a 1 year low of $52.46 and a 1 year high of $82.06. The stock’s 50 day simple moving average is $81.14 and its 200-day simple moving average is $78.16. 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 issued its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 EPS. Sell-side analysts forecast that Kellanova will post 3.75 EPS for the current year.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the completion of the transaction, the insider now directly owns 49,222,442 shares in the company, valued at approximately $3,997,354,514.82. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 1,031,247 shares of company stock valued at $83,724,652 over the last 90 days. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kellanova

A number of large investors have recently modified their holdings of K. Stonebridge Financial Group LLC bought a new stake in Kellanova during the fourth quarter worth $27,000. CVA Family Office LLC lifted its stake in Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after purchasing an additional 307 shares during the last quarter. MCF Advisors LLC grew its holdings in Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after purchasing an additional 137 shares during the period. Newbridge Financial Services Group Inc. raised its stake in Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after buying an additional 200 shares during the period. Finally, Capital Advisors Ltd. LLC lifted its position in shares of Kellanova by 41.4% in the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after buying an additional 158 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.