Kellanova (NYSE:K) Rating Increased to Outperform at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Kellanova (NYSE:K) from a sector perform rating to an outperform rating in a research report report published on Tuesday morning, Marketbeat.com reports. The firm currently has $83.50 target price on the stock.

Several other equities research analysts also recently weighed in on the stock. StockNews.com started coverage on shares of Kellanova in a research report on Sunday. They issued a “hold” rating for the company. 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 report on Friday, November 1st. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $77.96.

Kellanova Stock Up 0.1 %

Shares of NYSE:K opened at $82.34 on Tuesday. Kellanova has a 12-month low of $52.46 and a 12-month high of $82.41. The stock’s 50-day moving average price is $81.40 and its two-hundred day moving average price is $80.35. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.29. The firm has a market cap of $28.38 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 2.53 and a beta of 0.37.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. On average, research analysts forecast that Kellanova will post 3.91 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s 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 transaction, the insider now owns 49,222,442 shares in the company, valued at approximately $3,997,354,514.82. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 1,260,413 shares of company stock worth $102,571,264. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

Institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its stake in shares of Kellanova by 5.1% in the third quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock valued at $14,435,000 after buying an additional 8,686 shares in the last quarter. Principal Financial Group Inc. raised 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 worth $30,169,000 after acquiring an additional 24,067 shares during the last quarter. Wedmont Private Capital acquired a new position in shares of Kellanova during the fourth quarter worth approximately $384,000. Barclays PLC grew its stake 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 purchasing an additional 1,033,383 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Kellanova in the third quarter valued at approximately $4,211,000. 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.