Kellanova (NYSE:K) Price Target Raised to $62.00 at TD Cowen

Kellanova (NYSE:K) had its price target hoisted by equities research analysts at TD Cowen from $57.00 to $62.00 in a report issued on Friday, Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price objective points to a potential upside of 2.50% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Barclays lifted their price objective on Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. JPMorgan Chase & Co. lifted their price objective on Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Stifel Nicolaus lifted their price objective on Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. DA Davidson initiated coverage on Kellanova in a research note on Friday, March 1st. They issued a “buy” rating and a $67.00 price objective on the stock. Finally, Piper Sandler lifted their target price on Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $62.67.

Kellanova Stock Down 1.3 %

Shares of NYSE:K traded down $0.79 during midday trading on Friday, hitting $60.49. 4,363,737 shares of the stock were exchanged, compared to its average volume of 3,257,050. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.41 and a current ratio of 0.66. Kellanova has a 52-week low of $47.63 and a 52-week high of $71.53. The business’s fifty day simple moving average is $56.15 and its two-hundred day simple moving average is $54.52. The company has a market capitalization of $20.67 billion, a PE ratio of 22.00, a P/E/G ratio of 2.18 and a beta of 0.39.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the company earned $1.10 earnings per share. Kellanova’s quarterly revenue was down 4.2% compared to the same quarter last year. As a group, research analysts predict that Kellanova will post 3.57 earnings per share for the current fiscal year.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $58.00, for a total value of $4,512,400.00. Following the transaction, the insider now owns 51,842,238 shares in the company, valued at $3,006,849,804. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 933,600 shares of company stock worth $51,891,044 over the last 90 days. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

A number of hedge funds have recently modified their holdings of the business. Zhang Financial LLC boosted its position in Kellanova by 0.8% during the 1st quarter. Zhang Financial LLC now owns 21,318 shares of the company’s stock worth $1,221,000 after acquiring an additional 176 shares during the last quarter. Naples Global Advisors LLC grew its position in Kellanova by 1.7% in the fourth quarter. Naples Global Advisors LLC now owns 11,696 shares of the company’s stock valued at $654,000 after purchasing an additional 200 shares in the last quarter. Bfsg LLC increased its stake in Kellanova by 64.5% in the 1st quarter. Bfsg LLC now owns 510 shares of the company’s stock valued at $29,000 after buying an additional 200 shares during the last quarter. Huntington National Bank lifted its position in Kellanova by 1.6% during the 3rd quarter. Huntington National Bank now owns 12,808 shares of the company’s stock worth $762,000 after buying an additional 204 shares in the last quarter. Finally, Financial Advisors Network Inc. boosted its stake in shares of Kellanova by 4.2% during the 4th quarter. Financial Advisors Network Inc. now owns 5,040 shares of the company’s stock worth $282,000 after buying an additional 204 shares during the last quarter. 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.