Kellanova (NYSE:K) Trading Up 4.8% Following Better-Than-Expected Earnings

Kellanova (NYSE:KGet Free Report) shares traded up 4.8% during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $56.33 and last traded at $56.25. 505,517 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 2,685,409 shares. The stock had previously closed at $53.69.

The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same period in the previous year, the business earned $0.94 earnings per share. The firm’s revenue was up .3% on a year-over-year basis.

Analyst Upgrades and Downgrades

K has been the topic of several research reports. Wells Fargo & Company lifted their price target on shares of Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday. Morgan Stanley decreased their target price on shares of Kellanova from $68.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 9th. Barclays upgraded shares of Kellanova from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $57.00 to $55.00 in a research report on Thursday, November 9th. Stifel Nicolaus lifted their price objective on Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Finally, Citigroup began coverage on Kellanova in a report on Thursday, February 1st. They set a “neutral” rating and a $57.00 target price for the company. Fourteen analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $62.00.

Get Our Latest Analysis on Kellanova

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $52.21, for a total transaction of $4,061,938.00. Following the completion of the transaction, the insider now directly owns 53,398,238 shares in the company, valued at $2,787,922,005.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 700,200 shares of company stock valued at $37,956,286 in the last three months. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Kellanova

Institutional investors have recently made changes to their positions in the company. Intech Investment Management LLC lifted its holdings in shares of Kellanova by 10.1% during the fourth quarter. Intech Investment Management LLC now owns 263,880 shares of the company’s stock valued at $14,754,000 after purchasing an additional 24,124 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Kellanova by 4.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 158,989 shares of the company’s stock worth $8,889,000 after acquiring an additional 6,352 shares during the period. Advisory Services Network LLC boosted its holdings in Kellanova by 11.7% in the fourth quarter. Advisory Services Network LLC now owns 28,234 shares of the company’s stock worth $1,579,000 after purchasing an additional 2,950 shares during the last quarter. TCW Group Inc. bought a new stake in Kellanova in the 4th quarter worth approximately $948,000. Finally, SageView Advisory Group LLC bought a new position in shares of Kellanova during the 4th quarter valued at $225,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Trading Down 2.6 %

The company has a current ratio of 0.66, a quick ratio of 0.51 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $18.32 billion, a PE ratio of 19.45, a P/E/G ratio of 2.19 and a beta of 0.39. The stock has a 50 day moving average price of $54.79 and a 200-day moving average price of $56.18.

About Kellanova

(Get Free Report)

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods. The company operates through four segments: North America, Europe, Latin America, Asia, the Middle East, 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.

Featured Articles

Receive News & Ratings for Kellanova Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellanova and related companies with MarketBeat.com's FREE daily email newsletter.