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

Analysts at StockNews.com started coverage on shares of Kellanova (NYSE:KGet Free Report) in a research note issued to investors on Thursday. The firm set a “hold” rating on the stock.

Other research analysts also recently issued research reports about the company. Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a report on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Kellanova presently has an average rating of “Hold” and a consensus price target of $76.35.

Check Out Our Latest Report on K

Kellanova Trading Up 0.1 %

K opened at $81.87 on Thursday. 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 stock has a market capitalization of $28.22 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 2.50 and a beta of 0.37. The business has a fifty day moving average price of $81.01 and a 200 day moving average price of $77.25. Kellanova has a 12 month low of $52.46 and a 12 month high of $81.91.

Kellanova (NYSE:KGet Free Report) last posted its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. Sell-side analysts expect that Kellanova will post 3.75 earnings per share for the current fiscal year.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $80.99, for a total transaction of $9,280,077.17. Following the sale, the insider now owns 49,337,025 shares of the company’s stock, valued at $3,995,805,654.75. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 1,031,247 shares of company stock worth $83,592,882. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kellanova

Large investors have recently made changes to their positions in the business. Swedbank AB boosted its stake in Kellanova by 20.5% in the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after purchasing an additional 46,450 shares during the period. Toronto Dominion Bank boosted its stake in shares of Kellanova by 5.1% during the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock valued at $14,435,000 after buying an additional 8,686 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Kellanova by 6.9% during the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after acquiring an additional 24,067 shares in the last quarter. Wedmont Private Capital acquired a new position in Kellanova in the 4th quarter worth about $384,000. Finally, Barclays PLC raised its stake in shares of Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after purchasing an additional 1,033,383 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Kellanova Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Kellanova (NYSE:K)

Receive News & Ratings for Kellanova Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellanova and related companies with MarketBeat.com's FREE daily email newsletter.