Kellanova (NYSE:K) PT Raised to $59.00 at JPMorgan Chase & Co.

Kellanova (NYSE:KFree Report) had its price objective upped by JPMorgan Chase & Co. from $53.00 to $59.00 in a research report sent to investors on Friday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

K has been the subject of a number of other research reports. Citigroup started coverage on shares of Kellanova in a research note on Thursday, February 1st. They set a neutral rating and a $57.00 price target for the company. Wells Fargo & Company raised their price objective on shares of Kellanova from $56.00 to $58.00 and gave the stock an equal weight rating in a report on Friday. TheStreet lowered shares of Kellanova from a b- rating to a c+ rating in a report on Wednesday, October 25th. Stifel Nicolaus raised their price objective on shares of Kellanova from $56.00 to $58.00 and gave the stock a hold rating in a report on Thursday, January 25th. Finally, Barclays raised shares of Kellanova from an underweight rating to an equal weight rating and dropped their price objective for the stock from $57.00 to $55.00 in a report on Thursday, November 9th. Thirteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $61.93.

Read Our Latest Research Report on K

Kellanova Stock Up 2.2 %

Shares of K opened at $54.65 on Friday. The stock has a market cap of $18.72 billion, a price-to-earnings ratio of 19.87, a P/E/G ratio of 2.13 and a beta of 0.39. The company has a quick ratio of 0.41, a current ratio of 0.66 and a debt-to-equity ratio of 1.51. Kellanova has a 12 month low of $47.63 and a 12 month high of $72.30. The company has a 50-day moving average price of $54.81 and a two-hundred day moving average price of $55.93.

Kellanova (NYSE:KGet Free Report) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the company earned $0.94 earnings per share. Equities analysts predict that Kellanova will post 3.58 EPS for the current fiscal year.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $53.89, for a total value of $4,192,642.00. Following the completion of the sale, the insider now owns 53,320,438 shares of the company’s stock, valued at $2,873,438,403.82. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 700,200 shares of company stock valued at $37,956,286 over the last quarter. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Kellanova

Several institutional investors and hedge funds have recently made changes to their positions in K. CGC Financial Services LLC acquired a new position in shares of Kellanova in the 2nd quarter valued at $27,000. Sandy Spring Bank grew its holdings in shares of Kellanova by 902.5% in the 2nd quarter. Sandy Spring Bank now owns 401 shares of the company’s stock valued at $27,000 after buying an additional 361 shares during the period. RFP Financial Group LLC acquired a new position in shares of Kellanova in the 2nd quarter valued at $30,000. Oakworth Capital Inc. grew its holdings in shares of Kellanova by 491.3% in the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock valued at $28,000 after buying an additional 393 shares during the period. Finally, Spotlight Asset Group Inc. acquired a new position in shares of Kellanova in the 2nd quarter valued at $34,000. Institutional investors own 83.87% of the company’s stock.

Kellanova Company Profile

(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.

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