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

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

Other equities research analysts have also recently issued research reports about the stock. Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research note on Friday, November 1st. Fifteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Kellanova presently has an average rating of “Hold” and an average price target of $76.35.

Kellanova Stock Up 0.2 %

Shares of NYSE:K opened at $81.78 on Thursday. The stock has a market capitalization of $28.19 billion, a P/E ratio of 28.10, a price-to-earnings-growth ratio of 2.50 and a beta of 0.37. The stock’s 50-day moving average price is $80.99 and its 200-day moving average price is $77.21. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.82.

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

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 48,878,693 shares of the company’s stock, valued at $3,941,577,803.52. This represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 1,031,247 shares of company stock valued at $83,592,882. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

Hedge funds have recently bought and sold shares of the business. American Century Companies Inc. grew its stake in shares of Kellanova by 14.7% in the second quarter. American Century Companies Inc. now owns 36,893 shares of the company’s stock worth $2,128,000 after acquiring an additional 4,737 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Kellanova by 2.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 211,081 shares of the company’s stock valued at $12,175,000 after purchasing an additional 4,566 shares during the last quarter. AE Wealth Management LLC bought a new stake in Kellanova during the 2nd quarter valued at about $368,000. Sei Investments Co. raised its holdings in Kellanova by 5.3% in the second quarter. Sei Investments Co. now owns 83,392 shares of the company’s stock worth $4,810,000 after buying an additional 4,197 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Kellanova by 8.2% in the second quarter. Thrivent Financial for Lutherans now owns 20,250 shares of the company’s stock worth $1,168,000 after buying an additional 1,538 shares in the last quarter. Institutional investors 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.