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

StockNews.com started coverage on shares of Kellanova (NYSE:K) in a research note issued on Wednesday. The brokerage set a “hold” rating on the stock.

A number of other research firms have also issued reports on K. Piper Sandler boosted their price objective on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Wells Fargo & Company raised their price objective on shares of Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. upped their target price on shares of Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. BNP Paribas upgraded shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price target for the company in a research report on Monday, August 5th. Finally, Evercore ISI raised shares of Kellanova to a “hold” rating in a report on Friday, August 2nd. Fourteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $74.32.

Kellanova Trading Up 0.1 %

Shares of Kellanova stock opened at $80.64 on Wednesday. The stock has a fifty day moving average price of $73.82 and a 200-day moving average price of $63.62. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48. The firm has a market cap of $27.57 billion, a PE ratio of 30.17, a P/E/G ratio of 2.59 and a beta of 0.39. Kellanova has a 1 year low of $47.63 and a 1 year high of $80.97.

Kellanova (NYSE:K) last released its earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period last year, the business posted $1.25 earnings per share. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. Equities research analysts anticipate that Kellanova will post 3.7 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 that occurred on Monday, September 23rd. The stock was sold at an average price of $80.68, for a total transaction of $9,244,556.44. Following the transaction, the insider now directly owns 50,253,689 shares of the company’s stock, valued at $4,054,467,628.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $80.68, for a total value of $9,244,556.44. Following the completion of the sale, the insider now directly owns 50,253,689 shares of the company’s stock, valued at approximately $4,054,467,628.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $56.19, for a total transaction of $4,371,582.00. Following the transaction, the insider now owns 51,064,238 shares in the company, valued at approximately $2,869,299,533.22. The disclosure for this sale can be found here. Insiders have sold 966,149 shares of company stock valued at $69,866,455 over the last ninety days. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Kellanova

Several hedge funds and other institutional investors have recently added to or reduced their stakes in K. Blue Trust Inc. increased its stake in shares of Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after purchasing an additional 170 shares in the last quarter. Family Firm Inc. bought a new stake in Kellanova in the second quarter worth $29,000. BNP Paribas purchased a new stake in shares of Kellanova in the first quarter worth $30,000. Newbridge Financial Services Group Inc. increased its holdings in shares of Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of Kellanova in the 2nd quarter worth about $39,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

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.