Kellanova (NYSE:K) Now Covered by StockNews.com

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

A number of other brokerages also recently commented on K. Royal Bank of Canada downgraded Kellanova from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. Piper Sandler raised their target price on Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. BNP Paribas cut 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. The Goldman Sachs Group started coverage on Kellanova in a research note on Monday, August 12th. They set a “neutral” rating and a $75.00 target price for the company. Finally, Wells Fargo & Company raised their target price on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Fifteen analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Kellanova has a consensus rating of “Hold” and an average price target of $76.35.

Kellanova Stock Performance

Shares of Kellanova stock opened at $80.78 on Friday. Kellanova has a one year low of $52.46 and a one year high of $81.34. The company has a market cap of $27.84 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 2.59 and a beta of 0.38. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The business’s 50 day moving average price is $80.82 and its 200 day moving average price is $71.84.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping 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 firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the business posted $1.03 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. On average, research analysts predict that Kellanova will post 3.74 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on 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 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 SEC, which is available through this hyperlink. Insiders sold 1,145,830 shares of company stock valued at $92,516,606 in the last three months. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Swedbank AB lifted its holdings in Kellanova by 20.5% during the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after buying an additional 46,450 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Kellanova by 498.7% during the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock worth $15,049,000 after buying an additional 217,320 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Kellanova by 6.9% during the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after buying an additional 24,067 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Kellanova during the 3rd quarter worth about $4,211,000. Finally, Impax Asset Management Group plc purchased a new stake in Kellanova during the 3rd quarter worth about $4,991,000. 83.87% of the stock is owned by institutional investors and hedge funds.

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.