StockNews.com Begins Coverage on Kellanova (NYSE:K)

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

K has been the subject of a number of other research reports. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a research report on Friday, November 1st. Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $76.35.

Kellanova Price Performance

K stock opened at $81.53 on Tuesday. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.58. The company has a market cap of $28.10 billion, a price-to-earnings ratio of 28.02, a PEG ratio of 2.59 and a beta of 0.37. The firm has a 50 day moving average of $80.85 and a 200-day moving average of $75.50. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34.

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

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $80.63, for a total transaction of $9,238,827.29. Following the sale, the insider now owns 49,909,940 shares in the company, valued at $4,024,238,462.20. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders sold 1,031,247 shares of company stock worth $83,418,716. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kellanova

Institutional investors have recently modified their holdings of the company. Candriam S.C.A. increased its stake in shares of Kellanova by 5.0% in the second quarter. Candriam S.C.A. now owns 37,701 shares of the company’s stock valued at $2,174,000 after purchasing an additional 1,811 shares during the period. Savant Capital LLC raised its stake in Kellanova by 221.5% during the 2nd quarter. Savant Capital LLC now owns 12,914 shares of the company’s stock valued at $745,000 after acquiring an additional 8,897 shares in the last quarter. Quest Partners LLC boosted its position in Kellanova by 138.9% during the 2nd quarter. Quest Partners LLC now owns 27,909 shares of the company’s stock worth $1,610,000 after acquiring an additional 16,225 shares during the period. Choreo LLC grew its stake in shares of Kellanova by 101.2% in the second quarter. Choreo LLC now owns 7,966 shares of the company’s stock worth $453,000 after purchasing an additional 4,007 shares in the last quarter. Finally, LGT Group Foundation raised its stake in shares of Kellanova by 22.5% during the second quarter. LGT Group Foundation now owns 9,890 shares of the company’s stock valued at $570,000 after purchasing an additional 1,815 shares in the last quarter. 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.