Kellanova (NYSE:K) Upgraded at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Kellanova (NYSE:K) from a sector perform rating to an outperform rating in a research note published on Tuesday, MarketBeat.com reports. They currently have $83.50 target price on the stock.

Other analysts also recently issued research reports about the stock. StockNews.com started coverage on shares of Kellanova in a report on Sunday, February 16th. They issued a “hold” rating on the stock. BNP Paribas downgraded 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $77.96.

Kellanova Stock Up 0.0 %

K stock opened at $82.44 on Tuesday. The company has a market cap of $28.42 billion, a P/E ratio of 21.30, a P/E/G ratio of 4.21 and a beta of 0.37. Kellanova has a 52 week low of $52.46 and a 52 week high of $82.49. The company’s 50-day moving average price is $81.47 and its 200 day moving average price is $80.63. 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 (NYSE:K) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping 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, research analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $80.70, for a total transaction of $9,246,848.10. Following the completion of the transaction, the insider now owns 49,107,859 shares of the company’s stock, valued at approximately $3,963,004,221.30. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 1,145,830 shares of company stock valued at $93,291,187 over the last 90 days. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Several institutional investors and hedge funds have recently bought and sold shares of K. Stonebridge Financial Group LLC acquired a new stake in shares of Kellanova in the fourth quarter worth $27,000. BankPlus Trust Department acquired a new stake in shares of Kellanova in the fourth quarter worth $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Kellanova in the fourth quarter worth $32,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Kellanova in the fourth quarter worth $32,000. Finally, MCF Advisors LLC increased its position in shares of Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after acquiring an additional 137 shares in 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.