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

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

Separately, Royal Bank of Canada raised shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price for the company in a research report on Tuesday, February 18th. Thirteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $77.96.

Kellanova Stock Performance

Shares of K opened at $82.36 on Thursday. The stock has a 50 day moving average of $82.11 and a 200 day moving average of $81.23. The company has a market capitalization of $28.43 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 4.21 and a beta of 0.31. Kellanova has a 12 month low of $54.70 and a 12 month high of $83.22. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, sell-side analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, December 30th. The stock was sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the completion of the sale, the insider now owns 48,764,110 shares of the company’s stock, valued at approximately $3,942,578,293.50. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 1,260,413 shares of company stock worth $103,099,492 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

Several institutional investors and hedge funds have recently modified their holdings of the business. Stonebridge Financial Group LLC bought a new stake in shares of Kellanova during the 4th quarter worth $27,000. BankPlus Trust Department purchased a new position in Kellanova during the 4th quarter valued at about $28,000. Rialto Wealth Management LLC purchased a new stake in Kellanova in the fourth quarter worth $32,000. Flagship Wealth Advisors LLC purchased a new position in Kellanova during the 4th quarter valued at $32,000. Finally, First Horizon Advisors Inc. raised its holdings in Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after purchasing an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

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.