Kellanova (NYSE:K) Now Covered by StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of Kellanova (NYSE:K) in a report released on Monday. The brokerage set a “hold” rating on the stock.

Several other brokerages have also issued reports on K. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research note on Friday, November 1st. Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Fifteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $76.35.

Kellanova Stock Up 0.2 %

Shares of NYSE K opened at $80.97 on Monday. The stock has a market capitalization of $27.91 billion, a P/E ratio of 27.82, a PEG ratio of 2.59 and a beta of 0.38. The stock’s fifty day moving average is $80.80 and its 200 day moving average is $74.52. Kellanova has a 52 week low of $52.46 and a 52 week high of $81.34. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77.

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

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $80.57, for a total value of $9,231,952.31. Following the sale, the insider now directly owns 50,024,523 shares of the company’s stock, valued at approximately $4,030,475,818.11. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 1,031,247 shares of company stock valued at $83,337,362 in the last three months. Insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

A number of institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in shares of Kellanova by 6.9% during the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after acquiring an additional 24,067 shares during the period. Retirement Systems of Alabama raised its holdings in shares of Kellanova by 0.6% during the third quarter. Retirement Systems of Alabama now owns 58,422 shares of the company’s stock valued at $4,715,000 after purchasing an additional 351 shares during the period. Peapack Gladstone Financial Corp boosted its position in shares of Kellanova by 0.6% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 81,629 shares of the company’s stock worth $6,587,000 after purchasing an additional 507 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Kellanova in the 3rd quarter valued at about $210,000. Finally, Sanctuary Advisors LLC increased its position in Kellanova by 1.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock valued at $690,000 after buying an additional 145 shares in the last quarter. Institutional investors 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.