Kellanova (NYSE:K) Earns Hold Rating from Analysts at StockNews.com

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

Several other brokerages also recently weighed in on K. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research report on Friday, November 1st. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $76.35.

Check Out Our Latest Research Report on Kellanova

Kellanova Stock Performance

Shares of NYSE K opened at $81.87 on Thursday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The firm has a fifty day moving average price of $81.03 and a 200-day moving average price of $77.28. The stock has a market cap of $28.22 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 2.50 and a beta of 0.37. Kellanova has a 1 year low of $52.46 and a 1 year high of $81.91.

Kellanova (NYSE:KGet Free Report) last announced its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the prior year, the company earned $1.03 EPS. The business’s revenue was down .7% compared to the same quarter last year. Equities analysts anticipate that Kellanova will post 3.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $81.69, for a total value of $9,360,285.27. Following the completion of the sale, the insider now directly owns 48,420,361 shares in the company, valued at approximately $3,955,459,290.09. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 1,031,247 shares of company stock worth $83,592,882 over the last ninety days. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kellanova

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Investors Research Corp increased its stake in Kellanova by 1.0% during the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company’s stock valued at $1,049,000 after purchasing an additional 125 shares in the last quarter. Assetmark Inc. increased its position in shares of Kellanova by 26.2% during the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after acquiring an additional 131 shares in the last quarter. MCF Advisors LLC raised its holdings in shares of Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after acquiring an additional 137 shares during the last quarter. S.A. Mason LLC lifted its position in Kellanova by 7.6% in the 3rd quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock valued at $160,000 after acquiring an additional 140 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its stake in Kellanova by 1.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock valued at $690,000 after purchasing an additional 145 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

About Kellanova

(Get Free Report)

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.

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Analyst Recommendations for Kellanova (NYSE:K)

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