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

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

A number of other research analysts have also recently commented on the company. Stifel Nicolaus raised their target price on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Royal Bank of Canada cut shares of Kellanova from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $76.00 to $83.50 in a report on Thursday, August 15th. BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research report on Friday, November 1st. Piper Sandler lifted their price target on shares of Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group began coverage on shares of Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price objective on the stock. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $76.35.

Kellanova Stock Performance

NYSE:K opened at $81.15 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm’s fifty day simple moving average is $80.80 and its 200 day simple moving average is $71.12. The stock has a market cap of $27.97 billion, a P/E ratio of 27.89, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39. Kellanova has a twelve month low of $51.02 and a twelve month high of $81.34.

Kellanova (NYSE:K) last announced its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. The company’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, research analysts predict that Kellanova will post 3.74 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the transaction, the insider now directly owns 50,482,855 shares in the company, valued at approximately $4,051,249,113.75. The trade was 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 accessible through the SEC website. Over the last three months, insiders have sold 1,031,247 shares of company stock valued at $83,211,320. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of K. Blue Trust Inc. lifted its holdings in shares of Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after buying an additional 170 shares in the last quarter. Family Firm Inc. purchased a new stake in Kellanova in the 2nd quarter worth $29,000. CVA Family Office LLC boosted its holdings in shares of Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after purchasing an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. grew its position in shares of Kellanova by 61.9% during the second 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 in the last quarter. Finally, MCF Advisors LLC increased its holdings in shares of Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after purchasing an additional 137 shares during the last quarter. 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.