StockNews.com Initiates Coverage on Kellanova (NYSE:K)

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

Other equities research analysts have also issued research reports about the stock. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research note on Friday, November 1st. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target on the stock in a report on Tuesday, February 18th. Thirteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $77.96.

Kellanova Stock Performance

Shares of K stock opened at $82.73 on Monday. The stock has a market capitalization of $28.52 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 4.21 and a beta of 0.37. Kellanova has a one year low of $52.46 and a one year high of $82.85. The company’s 50-day simple moving average is $81.63 and its 200-day simple moving average is $80.89. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81.

Kellanova (NYSE:K) last issued 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 return on equity of 37.25% and a net margin of 10.53%. Equities analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Kellanova

In other Kellanova 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 value of $9,246,848.10. Following the transaction, the insider now owns 49,107,859 shares in the company, valued at approximately $3,963,004,221.30. This represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 1,145,830 shares of company stock valued at $93,291,187. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Kellanova

Several large investors have recently added to or reduced their stakes in the business. Investors Research Corp boosted its holdings in shares of Kellanova by 1.0% during the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company’s stock worth $1,049,000 after buying an additional 125 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Kellanova by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company’s stock worth $1,870,000 after purchasing an additional 130 shares during the period. Assetmark Inc. boosted its stake in Kellanova by 26.2% during the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after purchasing an additional 131 shares during the period. S.A. Mason LLC grew its holdings in Kellanova by 7.6% in the 3rd quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock valued at $160,000 after buying an additional 140 shares during the last quarter. Finally, Quent Capital LLC lifted its holdings in shares of Kellanova by 20.2% during the fourth quarter. Quent Capital LLC now owns 833 shares of the company’s stock worth $67,000 after buying an additional 140 shares during the last quarter. 83.87% of the stock is owned by institutional investors.

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.