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

StockNews.com assumed coverage on shares of Kellanova (NYSE:K) in a research note released on Saturday. The brokerage issued a hold rating on the stock.

Separately, BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Friday, November 1st. Fourteen analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $77.96.

Kellanova Stock Performance

Shares of K opened at $82.27 on Friday. The stock has a 50-day moving average of $81.21 and a two-hundred day moving average of $79.30. Kellanova has a one year low of $52.46 and a one year high of $82.31. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.53 and a current ratio of 0.81. The stock has a market cap of $28.36 billion, a P/E ratio of 21.26, a P/E/G ratio of 2.53 and a beta of 0.37.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, research analysts predict that Kellanova will post 3.91 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the completion of the sale, the insider now owns 49,222,442 shares in the company, valued at approximately $3,997,354,514.82. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 1,145,830 shares of company stock valued at $93,146,812. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kellanova

Several hedge funds have recently made changes to their positions in K. State Street Corp lifted its position in Kellanova by 5.2% in the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after purchasing an additional 731,273 shares during the period. Geode Capital Management LLC lifted its position in Kellanova by 3.0% in the third quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock valued at $541,052,000 after purchasing an additional 196,564 shares during the period. Barclays PLC lifted its position in Kellanova by 134.7% in the third 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 during the period. Charles Schwab Investment Management Inc. lifted its position in Kellanova by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,680,912 shares of the company’s stock valued at $136,103,000 after purchasing an additional 50,303 shares during the period. Finally, Ilex Capital Partners UK LLP lifted its position in shares of Kellanova by 63.8% during the 3rd quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock valued at $131,091,000 after acquiring an additional 632,510 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

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.