Kellanova (NYSE:K) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Kellanova (NYSE:K) in a report released on Friday. The firm set a “hold” rating on the stock.

Separately, Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $77.96.

Kellanova Price Performance

K stock opened at $82.47 on Friday. The firm has a 50 day moving average of $82.22 and a 200-day moving average of $81.31. The company has a market cap of $28.47 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 4.21 and a beta of 0.31. 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 has a 12-month low of $55.01 and a 12-month high of $83.22.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $81.28, for a total transaction of $9,313,306.24. Following the sale, the insider now owns 48,649,527 shares in the company, valued at $3,954,233,554.56. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 1,260,413 shares of company stock valued at $103,290,845 over the last 90 days. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Several large investors have recently added to or reduced their stakes in the business. Stonebridge Financial Group LLC acquired a new position in Kellanova during the fourth quarter worth approximately $27,000. BankPlus Trust Department purchased a new stake in shares of Kellanova during the 4th quarter valued at $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Kellanova during the 4th quarter worth $32,000. Flagship Wealth Advisors LLC purchased a new position in shares of Kellanova in the 4th quarter worth $32,000. Finally, First Horizon Advisors Inc. raised its position in shares of 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 buying an additional 173 shares during the period. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

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.