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

Investment analysts at StockNews.com started coverage on shares of Kellanova (NYSE:K) in a research report issued on Tuesday. The firm set a “hold” rating on the stock.

K has been the topic of a number of other reports. BNP Paribas lowered 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. Argus downgraded 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $76.35.

Kellanova Stock Performance

NYSE:K opened at $81.53 on Tuesday. The company has a 50-day moving average of $80.85 and a 200-day moving average of $75.50. The firm has a market cap of $28.10 billion, a price-to-earnings ratio of 28.02, a price-to-earnings-growth ratio of 2.59 and a beta of 0.37. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. Kellanova has a twelve month low of $52.46 and a twelve month high of $81.58.

Kellanova (NYSE:K) last issued its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the firm posted $1.03 earnings per share. Analysts forecast that Kellanova will post 3.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $81.28, for a total transaction of $9,313,306.24. Following the transaction, the insider now owns 48,649,527 shares in the company, valued at $3,954,233,554.56. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 1,031,247 shares of company stock worth $83,418,716 over the last ninety days. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Kellanova

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swedbank AB raised its stake in shares of Kellanova by 20.5% in the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock valued at $22,076,000 after buying an additional 46,450 shares in the last quarter. Toronto Dominion Bank lifted its stake in Kellanova by 5.1% during the third quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after purchasing an additional 8,686 shares during the period. Principal Financial Group Inc. boosted its holdings in Kellanova by 6.9% during the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after purchasing an additional 24,067 shares in the last quarter. Barclays PLC raised its holdings in shares of Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after buying an additional 1,033,383 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Kellanova during the 3rd quarter worth approximately $4,211,000. Institutional investors and hedge funds 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.