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

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

Other equities analysts have also issued research reports about the stock. Evercore ISI raised shares of Kellanova to a “hold” rating in a report on Friday, August 2nd. The Goldman Sachs Group assumed coverage on Kellanova in a report on Monday, August 12th. They set a “neutral” rating and a $75.00 target price for the company. Piper Sandler boosted their price objective on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Wells Fargo & Company lifted their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Finally, Stifel Nicolaus increased their price target on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Sixteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.96.

Kellanova Stock Performance

Kellanova stock opened at $80.86 on Monday. The firm’s 50 day simple moving average is $80.64 and its 200 day simple moving average is $68.70. 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 has a 1-year low of $50.81 and a 1-year high of $81.26. The firm has a market capitalization of $27.87 billion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 2.56 and a beta of 0.39.

Kellanova (NYSE:K) last released its quarterly 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. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter last year, the firm posted $1.03 EPS. The company’s revenue was down .7% compared to the same quarter last year. As a group, analysts expect that Kellanova will post 3.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total value of $6,227,890.00. Following the completion of the transaction, the insider now directly owns 50,753,038 shares in the company, valued at $4,062,780,691.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total value of $6,227,890.00. Following the completion of the sale, the insider now directly owns 50,753,038 shares in the company, valued at approximately $4,062,780,691.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,150,064 shares of company stock valued at $92,680,265. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of K. Blue Trust Inc. boosted its stake in shares of Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after acquiring an additional 170 shares during the last quarter. Family Firm Inc. purchased a new position in Kellanova during the second quarter valued at $29,000. CVA Family Office LLC grew its holdings in Kellanova by 529.3% during the third 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 period. Newbridge Financial Services Group Inc. increased its position in Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after buying an additional 200 shares in the last quarter. Finally, MCF Advisors LLC raised its stake in shares of Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares during the period. Institutional investors own 83.87% of the company’s stock.

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.