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

StockNews.com began coverage on shares of Kellanova (NYSE:K) in a report issued on Friday morning. The firm issued a hold rating on the stock.

Separately, BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Friday, November 1st. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $76.35.

Kellanova Price Performance

K opened at $81.74 on Friday. The stock’s 50-day moving average price is $81.13 and its 200 day moving average price is $78.13. Kellanova has a 12-month low of $52.46 and a 12-month high of $82.06. The firm has a market cap of $28.18 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 2.51 and a beta of 0.37. 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 issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 earnings per share. As a group, sell-side analysts expect that Kellanova will post 3.75 earnings per share 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 Kellanova stock in a transaction on Friday, November 29th. The shares were sold at an average price of $81.21, for a total value of $9,305,285.43. Following the transaction, the insider now directly owns 49,222,442 shares in the company, valued at $3,997,354,514.82. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 1,031,247 shares of company stock worth $83,724,652. 1.80% of the stock is owned by company insiders.

Institutional Trading of Kellanova

Several hedge funds have recently made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new stake in shares of Kellanova in the 4th quarter worth approximately $27,000. CVA Family Office LLC grew its holdings 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 purchasing an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. increased its position in shares of Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after buying an additional 200 shares in the last quarter. MCF Advisors LLC raised its stake in shares of Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position in shares of Kellanova by 41.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after buying an additional 158 shares in the last quarter. Institutional investors and hedge funds 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.