Kellanova (NYSE:K) Now Covered by StockNews.com

Equities research analysts at StockNews.com began coverage on shares of Kellanova (NYSE:K) in a report issued on Saturday. The firm set a “hold” rating on the stock.

A number of other analysts have also recently weighed in on K. The Goldman Sachs Group assumed coverage on Kellanova in a research report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price target on the stock. BNP Paribas raised shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 target price on the stock in a report on Monday, August 5th. Wells Fargo & Company lifted their price target on shares of Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a report on Thursday, August 15th. DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and boosted their price target for the company from $80.00 to $83.50 in a research report on Monday, August 26th. Finally, Royal Bank of Canada lowered shares of Kellanova from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $74.32.

Kellanova Trading Up 0.0 %

Shares of Kellanova stock opened at $81.05 on Friday. The company has a market cap of $27.71 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 2.59 and a beta of 0.39. Kellanova has a 1 year low of $49.28 and a 1 year high of $81.21. The company’s fifty day simple moving average is $80.19 and its 200-day simple moving average is $66.65. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the company earned $1.25 EPS. As a group, sell-side analysts expect that Kellanova will post 3.7 EPS for the current year.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $80.72, for a total transaction of $9,249,139.76. Following the completion of the sale, the insider now directly owns 50,139,106 shares of the company’s stock, valued at approximately $4,047,228,636.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $80.72, for a total value of $9,249,139.76. Following the completion of the transaction, the insider now directly owns 50,139,106 shares of the company’s stock, valued at approximately $4,047,228,636.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $80.62, for a total value of $6,272,236.00. Following the completion of the sale, the insider now directly owns 50,597,438 shares in the company, valued at $4,079,165,451.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,076,498 shares of company stock valued at $84,360,375. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. increased its holdings in Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after buying an additional 170 shares during the last quarter. Family Firm Inc. bought a new position in shares of Kellanova in the 2nd quarter valued at about $29,000. CVA Family Office LLC increased its stake in shares of Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after purchasing an additional 307 shares during the last quarter. BNP Paribas acquired a new position in shares of Kellanova during the 1st quarter worth about $30,000. Finally, Newbridge Financial Services Group Inc. raised its holdings 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 period. 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.