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

Investment analysts at StockNews.com began coverage on shares of Kellanova (NYSE:K) in a research note issued to investors on Friday. The brokerage set a “hold” rating on the stock.

Separately, Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Kellanova currently has a consensus rating of “Hold” and an average target price of $77.96.

Kellanova Trading Down 0.0 %

NYSE K opened at $82.43 on Friday. The business’s fifty day moving average is $82.24 and its 200-day moving average is $81.33. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The stock has a market capitalization of $28.45 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 4.21 and a beta of 0.31. Kellanova has a one year low of $55.01 and a one year high of $83.22.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Equities research analysts predict that Kellanova will post 3.93 EPS for the current year.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $81.28, for a total transaction of $9,313,306.24. Following the completion of the sale, the insider now owns 48,649,527 shares of the company’s stock, valued at approximately $3,954,233,554.56. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 1,374,996 shares of company stock worth $112,737,068 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

Several institutional investors and hedge funds have recently modified their holdings of K. Stonebridge Financial Group LLC purchased a new stake in shares of Kellanova during the 4th quarter valued at $27,000. BankPlus Trust Department bought a new stake in Kellanova during the fourth quarter worth about $28,000. Rialto Wealth Management LLC purchased a new position in shares of Kellanova in the 4th quarter worth about $32,000. Flagship Wealth Advisors LLC purchased a new position in shares of Kellanova in the 4th quarter worth about $32,000. Finally, First Horizon Advisors Inc. increased its position in shares of Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after purchasing an additional 173 shares during the last quarter. Hedge funds and other 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.