Brokerages Set Kellanova (NYSE:K) Price Target at $62.73

Shares of Kellanova (NYSE:KGet Free Report) have earned an average recommendation of “Hold” from the thirteen analysts that are presently covering the firm, Marketbeat Ratings reports. Twelve equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $61.93.

K has been the subject of a number of research reports. Barclays lifted their price target on Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Monday. JPMorgan Chase & Co. raised their target price on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday. TheStreet cut shares of Kellanova from a “b-” rating to a “c+” rating in a report on Wednesday, October 25th. StockNews.com cut shares of Kellanova from a “buy” rating to a “hold” rating in a report on Friday. Finally, Morgan Stanley cut their target price on shares of Kellanova from $68.00 to $57.00 and set an “equal weight” rating on the stock in a report on Thursday, November 9th.

View Our Latest Research Report on Kellanova

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $52.21, for a total value of $4,061,938.00. Following the transaction, the insider now owns 53,398,238 shares in the company, valued at $2,787,922,005.98. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold a total of 700,200 shares of company stock valued at $37,956,286 over the last quarter. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in Kellanova by 1.2% during the 1st quarter. BlackRock Inc. now owns 31,697,821 shares of the company’s stock worth $2,122,486,000 after purchasing an additional 369,648 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Kellanova by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 29,353,099 shares of the company’s stock valued at $1,892,981,000 after acquiring an additional 646,828 shares in the last quarter. State Street Corp grew its holdings in shares of Kellanova by 2.6% during the 1st quarter. State Street Corp now owns 14,696,120 shares of the company’s stock valued at $947,753,000 after acquiring an additional 369,620 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Kellanova by 3.5% in the 2nd quarter. Geode Capital Management LLC now owns 5,855,495 shares of the company’s stock valued at $393,670,000 after purchasing an additional 196,091 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Kellanova by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company’s stock valued at $316,323,000 after purchasing an additional 98,294 shares during the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Kellanova Stock Up 2.2 %

Shares of Kellanova stock opened at $54.65 on Thursday. The business has a 50-day moving average of $54.81 and a 200-day moving average of $55.93. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. The company has a market capitalization of $18.72 billion, a PE ratio of 19.87, a P/E/G ratio of 2.13 and a beta of 0.39. Kellanova has a 1-year low of $47.63 and a 1-year high of $72.30.

Kellanova (NYSE:KGet Free Report) last announced its earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04. The company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.07 billion. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The company’s revenue was up .3% on a year-over-year basis. During the same period last year, the firm earned $0.94 earnings per share. As a group, equities analysts forecast that Kellanova will post 3.58 EPS for the current fiscal year.

Kellanova Company Profile

(Get Free Report

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods. The company operates through four segments: North America, Europe, Latin America, Asia, the Middle East, 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.

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Analyst Recommendations for Kellanova (NYSE:K)

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