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

Investment analysts at StockNews.com began coverage on shares of Kellanova (NYSE:K) in a note issued to investors on Wednesday. The firm set a “hold” rating on the stock.

Separately, Royal Bank of Canada upgraded shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price for the company in a report on Tuesday, February 18th. Thirteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $77.96.

Kellanova Stock Performance

Shares of NYSE:K opened at $82.30 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The business’s 50 day moving average price is $82.03 and its 200-day moving average price is $81.18. The firm has a market capitalization of $28.41 billion, a PE ratio of 21.26, a P/E/G ratio of 4.21 and a beta of 0.31. Kellanova has a 1 year low of $52.46 and a 1 year high of $83.22.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.92 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, equities research analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the completion of the transaction, the insider now owns 48,878,693 shares of the company’s stock, valued at approximately $3,941,577,803.52. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 1,145,830 shares of company stock valued at $93,673,894 in the last ninety days. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Kellanova

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Investors Research Corp raised its holdings in Kellanova by 1.0% in the third quarter. Investors Research Corp now owns 12,991 shares of the company’s stock valued at $1,049,000 after acquiring an additional 125 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in Kellanova by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company’s stock worth $1,870,000 after acquiring an additional 130 shares during the period. Assetmark Inc. boosted its position in Kellanova by 26.2% during the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after acquiring an additional 131 shares during the period. Quent Capital LLC boosted its stake in Kellanova by 20.2% during the fourth quarter. Quent Capital LLC now owns 833 shares of the company’s stock valued at $67,000 after buying an additional 140 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its stake in Kellanova by 1.7% during the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock valued at $690,000 after buying an additional 145 shares in the last quarter. Hedge funds and other 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.