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

StockNews.com started coverage on shares of Kellanova (NYSE:K) in a research report sent to investors on Thursday morning. The brokerage issued a hold rating on the stock.

A number of other equities research analysts have also issued reports on K. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a report on Friday, November 1st. Fifteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Kellanova has a consensus rating of “Hold” and a consensus price target of $76.35.

Kellanova Stock Performance

K opened at $81.87 on Thursday. Kellanova has a 52-week low of $52.46 and a 52-week high of $81.91. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm’s fifty day simple moving average is $81.03 and its two-hundred day simple moving average is $77.28. The company has a market cap of $28.22 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 2.50 and a beta of 0.37.

Kellanova (NYSE:K) last issued its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. The company had revenue of $3.23 billion during 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%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business earned $1.03 EPS. Equities analysts anticipate that Kellanova will post 3.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $80.64, for a total value of $9,239,973.12. Following the transaction, the insider now directly owns 48,878,693 shares of the company’s stock, valued at approximately $3,941,577,803.52. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 1,031,247 shares of company stock valued at $83,592,882. Insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

A number of institutional investors and hedge funds have recently modified their holdings of K. CVA Family Office LLC grew 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 acquiring an additional 307 shares during the period. MCF Advisors LLC grew its position in shares of Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after purchasing an additional 137 shares during the period. Newbridge Financial Services Group Inc. increased its stake in Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in Kellanova by 41.4% during 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 during the period. Finally, Mather Group LLC. lifted its stake in Kellanova by 71.3% in the third quarter. Mather Group LLC. now owns 615 shares of the company’s stock valued at $50,000 after buying an additional 256 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

About Kellanova

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.