Kellanova (NYSE:K) Research Coverage Started at StockNews.com

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

A number of other equities research analysts have also recently weighed in on K. JPMorgan Chase & Co. upped their price objective on Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Bank of America upgraded Kellanova from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $62.00 to $70.00 in a research note on Friday, August 2nd. BNP Paribas upgraded Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price objective for the company in a research note on Monday, August 5th. Wells Fargo & Company upped their price objective on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Finally, Argus cut Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday. Fifteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and a consensus price target of $74.32.

Kellanova Price Performance

K opened at $80.61 on Thursday. Kellanova has a 12-month low of $47.63 and a 12-month high of $81.00. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46. The business’s fifty day simple moving average is $77.02 and its 200-day simple moving average is $64.80. The company has a market capitalization of $27.56 billion, a price-to-earnings ratio of 30.19, a PEG ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The business’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.25 EPS. On average, equities research analysts anticipate that Kellanova will post 3.7 earnings per share for the current fiscal year.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $56.19, for a total value of $4,371,582.00. Following the completion of the transaction, the insider now directly owns 51,064,238 shares in the company, valued at $2,869,299,533.22. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the sale, the insider now directly owns 50,368,272 shares of the company’s stock, valued at $4,062,201,136.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $56.19, for a total value of $4,371,582.00. Following the sale, the insider now directly owns 51,064,238 shares in the company, valued at approximately $2,869,299,533.22. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,080,732 shares of company stock worth $79,115,595 over the last three months. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Kellanova

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. grew its holdings in Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after purchasing an additional 170 shares during the period. Family Firm Inc. acquired a new stake in Kellanova in the second quarter valued at approximately $29,000. BNP Paribas acquired a new stake in Kellanova in the first quarter valued at approximately $30,000. Newbridge Financial Services Group Inc. grew its holdings in 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 purchasing an additional 200 shares during the period. Finally, Ridgewood Investments LLC acquired a new stake in Kellanova in the second quarter valued at approximately $39,000. 83.87% of the stock is owned by institutional investors and hedge funds.

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.