Kellanova (NYSE:K) Earns Hold Rating from Analysts at StockNews.com

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

A number of other research analysts have also recently weighed in on the company. Argus cut Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research note on Friday, November 1st. Finally, DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and increased their target price for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Fifteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Kellanova currently has an average rating of “Hold” and an average price target of $76.35.

Kellanova Trading Down 0.2 %

NYSE K opened at $80.58 on Friday. The company has a market cap of $27.78 billion, a P/E ratio of 27.69, a P/E/G ratio of 2.59 and a beta of 0.38. Kellanova has a 12 month low of $52.46 and a 12 month high of $81.34. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The company has a 50-day moving average of $80.82 and a 200-day moving average of $72.51.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.23 billion during 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%. Kellanova’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.03 earnings per share. As a group, equities analysts predict that Kellanova will post 3.74 earnings per share for the current year.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $80.57, for a total transaction of $9,231,952.31. Following the completion of the sale, the insider now owns 50,024,523 shares in the company, valued at $4,030,475,818.11. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 1,145,830 shares of company stock worth $92,568,168. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kellanova

Several institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. raised 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 in the last quarter. Family Firm Inc. bought a new stake in Kellanova in the second quarter valued at about $29,000. CVA Family Office LLC raised its stake 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 buying an additional 307 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after buying an additional 200 shares during the last quarter. Finally, MCF Advisors LLC grew its position in shares of Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after acquiring an additional 137 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

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.