Kellanova (NYSE:K) Coverage Initiated at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Kellanova (NYSE:K) in a report released on Saturday. The firm set a “hold” rating on the stock.

Separately, Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $77.96.

Kellanova Price Performance

K opened at $82.25 on Friday. The company has a market capitalization of $28.39 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 4.21 and a beta of 0.34. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. Kellanova has a 12-month low of $55.01 and a 12-month high of $83.22. The business’s fifty day simple moving average is $82.31 and its 200-day simple moving average is $81.40.

Kellanova (NYSE:K) last posted its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. On average, equities research analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Friday, February 28th. The shares were sold at an average price of $82.70, for a total value of $9,476,014.10. Following the completion of the transaction, the insider now owns 47,847,446 shares of the company’s stock, valued at approximately $3,956,983,784.20. 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 1,260,413 shares of company stock worth $103,473,032 over the last three months. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

Institutional investors have recently modified their holdings of the business. Independent Advisor Alliance raised its position in Kellanova by 16.5% during the fourth quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock worth $583,000 after acquiring an additional 1,019 shares during the period. Toronto Dominion Bank increased its stake in shares of 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 in the last quarter. Wedmont Private Capital acquired a new position in shares of Kellanova during the 4th quarter worth about $384,000. Barclays PLC lifted its stake in Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after buying an additional 1,033,383 shares in the last quarter. Finally, Alpine Associates Management Inc. boosted its holdings in Kellanova by 93.5% in the 4th quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company’s stock worth $49,622,000 after buying an additional 296,150 shares during the last quarter. 83.87% of the stock is currently 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.