Kellanova (NYSE:K) Hits New 1-Year High – Should You Buy?

Kellanova (NYSE:K)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $82.43 and last traded at $82.36, with a volume of 174720 shares. The stock had previously closed at $82.32.

Analysts Set New Price Targets

A number of analysts recently issued reports on K shares. StockNews.com initiated coverage on Kellanova in a research report on Sunday. They issued a “hold” rating on the stock. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target on the stock in a research report on Tuesday. Finally, BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a report on Friday, November 1st. Thirteen analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Kellanova currently has a consensus rating of “Hold” and a consensus price target of $77.96.

Kellanova Stock Performance

The stock has a 50 day moving average price of $81.44 and a two-hundred day moving average price of $80.49. The company has a market cap of $28.41 billion, a P/E ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating 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, research analysts predict that Kellanova will post 3.92 earnings per share for the current fiscal year.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $80.99, for a total transaction of $9,280,077.17. Following the completion of the sale, the insider now owns 49,337,025 shares of the company’s stock, valued at $3,995,805,654.75. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 1,260,413 shares of company stock worth $102,571,264. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

A number of institutional investors and hedge funds have recently modified their holdings of K. Toronto Dominion Bank lifted its holdings in shares of Kellanova by 5.1% in the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after purchasing an additional 8,686 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Kellanova by 6.9% in the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after buying an additional 24,067 shares in the last quarter. Wedmont Private Capital bought a new position in shares of Kellanova in the fourth quarter valued at $384,000. Barclays PLC grew its holdings in shares of Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after buying an additional 1,033,383 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Kellanova during the third quarter worth about $4,211,000. 83.87% of the stock is currently 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.