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

Analysts at StockNews.com started coverage on shares of Kellanova (NYSE:K) in a note issued to investors on Friday. The firm set a “hold” rating on the stock.

Separately, Royal Bank of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Fourteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $77.96.

Kellanova Stock Down 0.0 %

K opened at $82.43 on Friday. The company has a market cap of $28.45 billion, a P/E ratio of 21.30, a P/E/G ratio of 4.21 and a beta of 0.31. Kellanova has a 12 month low of $55.01 and a 12 month high of $83.22. The business’s 50-day moving average price is $82.24 and its 200-day moving average price is $81.33. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. On average, equities analysts expect that Kellanova will post 3.93 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $82.44, for a total transaction of $9,446,222.52. Following the sale, the insider now owns 47,389,114 shares in the company, valued at approximately $3,906,758,558.16. The trade was a 0.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 1,374,996 shares of company stock valued at $112,737,068 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of K. Norges Bank purchased a new position in Kellanova during the fourth quarter valued at $285,126,000. Franklin Resources Inc. raised its position in shares of Kellanova by 869.5% in the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company’s stock worth $208,826,000 after purchasing an additional 2,313,047 shares during the last quarter. FIL Ltd boosted its stake in Kellanova by 182.3% in the 4th quarter. FIL Ltd now owns 2,388,000 shares of the company’s stock worth $193,356,000 after purchasing an additional 1,542,000 shares in the last quarter. Westchester Capital Management LLC purchased a new stake in Kellanova during the 3rd quarter valued at about $107,795,000. Finally, Barclays PLC increased its stake in Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after purchasing an additional 1,033,383 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

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.