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

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

K has been the subject of a number of other reports. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Friday, November 1st. Argus cut Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, DA Davidson lowered Kellanova from a “buy” rating to a “neutral” rating and boosted their target price for the company from $80.00 to $83.50 in a report on Monday, August 26th. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $76.35.

Kellanova Trading Up 0.2 %

K opened at $80.70 on Friday. The business has a fifty day moving average price of $80.81 and a 200 day moving average price of $73.46. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. Kellanova has a 12 month low of $52.46 and a 12 month high of $81.34. The stock has a market capitalization of $27.82 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 2.59 and a beta of 0.38.

Kellanova (NYSE:K) last issued its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. The company’s revenue was down .7% compared to the same quarter last year. Sell-side analysts expect that Kellanova will post 3.74 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $80.57, for a total value of $9,231,952.31. Following the completion of the sale, the insider now owns 50,024,523 shares in the company, valued at approximately $4,030,475,818.11. 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 can be accessed through this link. Insiders sold 1,031,247 shares of company stock valued at $83,322,466 in the last ninety days. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Several large investors have recently modified their holdings of K. Blue Trust Inc. raised its position in shares of Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares during the period. CVA Family Office LLC lifted its stake in Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after buying an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its holdings 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 acquiring an additional 200 shares during the period. MCF Advisors LLC grew its position in shares of Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after acquiring an additional 137 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of Kellanova in the 2nd quarter worth about $39,000. Institutional investors own 83.87% of the company’s stock.

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.