Kellanova (NYSE:K) Research Coverage Started at StockNews.com

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

Separately, BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a report on Friday, November 1st. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $77.96.

Kellanova Stock Up 0.1 %

Shares of NYSE K opened at $82.34 on Friday. The firm has a market cap of $28.38 billion, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 2.53 and a beta of 0.37. The firm’s 50 day moving average price is $81.40 and its 200 day moving average price is $80.35. Kellanova has a 1 year low of $52.46 and a 1 year high of $82.41. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.53 and a current ratio of 0.81.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share 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%. As a group, sell-side analysts anticipate that Kellanova will post 3.91 earnings per share for the current year.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Friday, February 14th. The shares were sold at an average price of $82.25, for a total transaction of $9,424,451.75. Following the sale, the insider now owns 48,076,612 shares of the company’s stock, valued at $3,954,301,337. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 1,260,413 shares of company stock worth $102,571,264. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kellanova

Hedge funds and other institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank increased its position in shares of Kellanova by 5.1% in the 3rd 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 last quarter. Principal Financial Group Inc. increased its position in shares of Kellanova by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after purchasing an additional 24,067 shares during the last quarter. Wedmont Private Capital bought a new stake in shares of Kellanova in the 4th quarter worth about $384,000. Barclays PLC increased its position 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 purchasing an additional 1,033,383 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Kellanova in the 3rd quarter valued at about $4,211,000. Institutional investors own 83.87% of the company’s stock.

About Kellanova

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.