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

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

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

Kellanova Stock Performance

NYSE K opened at $82.37 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. Kellanova has a fifty-two week low of $55.96 and a fifty-two week high of $83.22. The business has a fifty day moving average of $82.35 and a 200-day moving average of $81.52. The stock has a market cap of $28.43 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34.

Kellanova (NYSE:K) last announced its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating 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%. As a group, analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $82.41, for a total value of $9,442,785.03. Following the completion of the transaction, the insider now owns 47,159,948 shares of the company’s stock, valued at approximately $3,886,451,314.68. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 1,260,413 shares of company stock worth $103,672,407 in the last 90 days. 1.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kellanova

A number of institutional investors have recently modified their holdings of the stock. Grove Bank & Trust bought a new stake in Kellanova in the first quarter valued at about $25,000. Stonebridge Financial Group LLC acquired a new position in shares of Kellanova in the 4th quarter worth approximately $27,000. BankPlus Trust Department bought a new stake in shares of Kellanova in the 4th quarter valued at approximately $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Kellanova during the 4th quarter valued at approximately $32,000. Finally, Flagship Wealth Advisors LLC bought a new position in Kellanova during the fourth quarter worth $32,000. 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.