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

Analysts at StockNews.com started coverage on shares of Kellanova (NYSE:K) in a research note issued on Saturday. 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 target price on the stock. in a research report on Friday, November 1st. Fourteen analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $77.96.

Kellanova Stock Performance

Shares of K stock opened at $82.29 on Friday. The firm has a market cap of $28.37 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 2.53 and a beta of 0.37. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The company’s 50 day moving average is $81.21 and its 200 day moving average is $79.14. Kellanova has a 52-week low of $52.46 and a 52-week high of $82.31.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. On average, sell-side analysts anticipate that Kellanova will post 3.91 EPS for the current fiscal year.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Friday, November 29th. The shares were 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 of the company’s stock, valued at $3,997,354,514.82. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 1,031,247 shares of company stock valued at $83,724,652. 1.80% of the stock is owned by insiders.

Institutional Trading of Kellanova

Several hedge funds and other institutional investors have recently added to or reduced their stakes in K. Westchester Capital Management LLC purchased a new stake in Kellanova in the 3rd quarter worth $107,795,000. Barclays PLC grew its position in shares of 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 purchasing an additional 1,033,383 shares during the period. State Street Corp increased its stake in shares of Kellanova by 5.2% during the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after purchasing an additional 731,273 shares in the last quarter. Ilex Capital Partners UK LLP raised its position in shares of Kellanova by 63.8% during the 3rd quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock worth $131,091,000 after purchasing an additional 632,510 shares during the last quarter. Finally, Syquant Capital Sas purchased a new position in Kellanova in the 4th quarter valued at about $29,595,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

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.