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

Stock analysts at StockNews.com assumed coverage on shares of Kellanova (NYSE:K) in a research note issued on Sunday. The firm set a “hold” rating on the stock.

Separately, BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a report on Friday, November 1st. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $77.96.

Kellanova Stock Performance

NYSE:K opened at $82.26 on Friday. The firm has a market capitalization of $28.35 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 2.53 and a beta of 0.37. The business’s fifty day moving average price is $81.37 and its 200 day moving average price is $79.86. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.53. Kellanova has a 12 month low of $52.46 and a 12 month high of $82.41.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. On average, sell-side analysts anticipate that Kellanova will post 3.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $82.25, for a total value of $9,424,451.75. Following the completion of the sale, the insider now owns 48,076,612 shares in the company, valued at $3,954,301,337. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 1,260,413 shares of company stock valued at $102,571,264 over the last quarter. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kellanova

A number of hedge funds have recently added to or reduced their stakes in the company. Investors Research Corp lifted its position in shares of Kellanova by 1.0% during the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company’s stock valued at $1,049,000 after acquiring an additional 125 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of Kellanova by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company’s stock valued at $1,870,000 after acquiring an additional 130 shares during the period. Assetmark Inc. lifted its position in shares of Kellanova by 26.2% during the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after acquiring an additional 131 shares during the period. MCF Advisors LLC lifted its position in shares of Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after acquiring an additional 137 shares during the period. Finally, S.A. Mason LLC lifted its position in shares of Kellanova by 7.6% during the 3rd quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock valued at $160,000 after acquiring an additional 140 shares during the period. Institutional investors and hedge funds 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.