Kellanova (NYSE:K) Rating Increased to Hold at Wall Street Zen

Kellanova (NYSE:K) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other research firms have also commented on K. JPMorgan Chase & Co. assumed coverage on shares of Kellanova in a research report on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 price target on the stock. Citigroup raised shares of Kellanova to a “neutral” rating and set a $83.50 price target on the stock in a research report on Thursday, May 29th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $83.38.

Kellanova Price Performance

Kellanova stock opened at $79.41 on Friday. The firm has a fifty day moving average of $79.76 and a 200-day moving average of $81.10. The firm has a market capitalization of $27.61 billion, a P/E ratio of 20.84, a PEG ratio of 4.95 and a beta of 0.27. Kellanova has a 52-week low of $77.70 and a 52-week high of $83.22. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the previous year, the business posted $1.01 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. As a group, analysts predict that Kellanova will post 3.93 EPS for the current year.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the completion of the transaction, the insider directly owned 45,097,438 shares in the company, valued at $3,587,501,192.90. This trade represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 1,145,846 shares of company stock valued at $91,267,778 in the last ninety days. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kellanova

Several hedge funds have recently made changes to their positions in K. Osaic Holdings Inc. increased its position in Kellanova by 7.4% during the 2nd quarter. Osaic Holdings Inc. now owns 47,664 shares of the company’s stock valued at $3,795,000 after buying an additional 3,292 shares in the last quarter. Orion Porfolio Solutions LLC lifted its position in shares of Kellanova by 24.9% in the second quarter. Orion Porfolio Solutions LLC now owns 10,769 shares of the company’s stock valued at $856,000 after acquiring an additional 2,149 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Kellanova by 39.2% in the second quarter. Thrivent Financial for Lutherans now owns 15,374 shares of the company’s stock valued at $1,223,000 after purchasing an additional 4,330 shares during the last quarter. Stance Capital LLC acquired a new stake in Kellanova during the second quarter worth $1,856,000. Finally, Advisory Services Network LLC increased its stake in Kellanova by 5.8% during the second quarter. Advisory Services Network LLC now owns 4,782 shares of the company’s stock worth $382,000 after acquiring an additional 263 shares during the last quarter. 83.87% of the stock is currently 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.