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

StockNews.com began coverage on shares of Kellanova (NYSE:K) in a research report issued to clients and investors on Monday. The firm set a “hold” rating on the stock.

Several other brokerages have also commented on K. Deutsche Bank Aktiengesellschaft lifted their price objective on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a report on Thursday, August 15th. Barclays upped their price target on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a report on Friday. The Goldman Sachs Group started coverage on shares of Kellanova in a report on Monday, August 12th. They set a “neutral” rating and a $75.00 target price for the company. Finally, Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Sixteen research 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, the company currently has an average rating of “Hold” and an average target price of $74.96.

Kellanova Price Performance

Shares of NYSE K opened at $80.61 on Monday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.48 and a current ratio of 0.77. The company has a 50 day simple moving average of $80.63 and a two-hundred day simple moving average of $68.36. Kellanova has a fifty-two week low of $50.81 and a fifty-two week high of $81.26. The company has a market capitalization of $27.78 billion, a price-to-earnings ratio of 27.70, a P/E/G ratio of 2.58 and a beta of 0.39.

Kellanova (NYSE:K) last issued its 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. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. Analysts expect that Kellanova will post 3.71 EPS for the current fiscal year.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total value of $6,227,890.00. Following the completion of the sale, the insider now directly owns 50,753,038 shares in the company, valued at $4,062,780,691.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $80.76, for a total value of $9,253,723.08. Following the sale, the insider now directly owns 49,680,774 shares in the company, valued at approximately $4,012,219,308.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total value of $6,227,890.00. Following the sale, the insider now directly owns 50,753,038 shares of the company’s stock, valued at $4,062,780,691.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,227,864 shares of company stock worth $98,438,243 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

Several large investors have recently added to or reduced their stakes in the stock. Norden Group LLC bought a new stake in shares of Kellanova in the first quarter valued at about $395,000. Sequoia Financial Advisors LLC boosted its stake in shares of Kellanova by 23.3% during the first quarter. Sequoia Financial Advisors LLC now owns 9,751 shares of the company’s stock valued at $559,000 after purchasing an additional 1,841 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Kellanova by 18.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,172 shares of the company’s stock valued at $6,827,000 after buying an additional 18,224 shares during the period. Janney Montgomery Scott LLC raised its stake in Kellanova by 3.7% in the first quarter. Janney Montgomery Scott LLC now owns 42,382 shares of the company’s stock worth $2,428,000 after buying an additional 1,504 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its holdings in Kellanova by 12.7% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,385 shares of the company’s stock worth $538,000 after buying an additional 1,061 shares during the period. 83.87% of the stock is owned by hedge funds and other 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.