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

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

Several other analysts have also recently weighed in on the stock. Evercore ISI raised shares of Kellanova to a “hold” rating in a research note on Friday, August 2nd. Wells Fargo & Company upped their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and upped their target price for the stock from $62.00 to $70.00 in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group began coverage on shares of Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 target price on the stock. Fifteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and a consensus price target of $74.32.

Kellanova Stock Performance

NYSE K opened at $80.55 on Friday. The stock has a market cap of $27.54 billion, a P/E ratio of 30.17, a PEG ratio of 2.59 and a beta of 0.39. The company’s 50-day simple moving average is $79.23 and its 200 day simple moving average is $65.74. Kellanova has a twelve month low of $47.63 and a twelve month high of $81.00. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46.

Kellanova (NYSE:K) last posted its earnings results on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. As a group, research analysts forecast that Kellanova will post 3.7 earnings per share for the current fiscal year.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $57.67, for a total transaction of $4,486,726.00. Following the completion of the transaction, the insider now directly owns 50,986,438 shares in the company, valued at $2,940,387,879.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $57.67, for a total transaction of $4,486,726.00. Following the completion of the transaction, the insider now directly owns 50,986,438 shares in the company, valued at $2,940,387,879.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the transaction, the insider now owns 50,368,272 shares of the company’s stock, valued at approximately $4,062,201,136.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,117,515 shares of company stock valued at $83,979,855. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Several institutional investors and hedge funds have recently added to or reduced their stakes in K. Blue Trust Inc. boosted its stake in shares of Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after purchasing an additional 170 shares during the last quarter. Family Firm Inc. bought a new stake in shares of Kellanova in the 2nd quarter valued at $29,000. CVA Family Office LLC boosted its stake in shares of 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. BNP Paribas bought a new stake in shares of Kellanova in the 1st quarter valued at $30,000. Finally, Newbridge Financial Services Group Inc. boosted its stake in shares of Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after purchasing an additional 200 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.