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

StockNews.com started coverage on shares of Kellanova (NYSE:K) in a research report issued on Thursday. The firm set a “hold” rating on the stock.

A number of other brokerages have also commented on K. DA Davidson lowered Kellanova from a “buy” rating to a “neutral” rating and raised their price target for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Stifel Nicolaus raised their price target on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Barclays raised their price target on Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Bank of America raised Kellanova from a “neutral” rating to a “buy” rating and raised their price objective for the company from $62.00 to $70.00 in a research report on Friday, August 2nd. Finally, Piper Sandler raised their price objective on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Fifteen analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $74.32.

Kellanova Stock Down 0.0 %

Shares of Kellanova stock opened at $80.61 on Thursday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. Kellanova has a 52-week low of $47.63 and a 52-week high of $81.00. The stock has a market capitalization of $27.56 billion, a price-to-earnings ratio of 30.19, a P/E/G ratio of 2.59 and a beta of 0.39. The company’s 50 day moving average price is $77.02 and its 200-day moving average price is $64.80.

Kellanova (NYSE:K) last issued its earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the business earned $1.25 earnings per share. The business’s revenue was down 4.7% on a year-over-year basis. Equities research analysts forecast that Kellanova will post 3.7 EPS for the current year.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $56.19, for a total transaction of $4,371,582.00. Following the sale, the insider now directly owns 51,064,238 shares of the company’s stock, valued at $2,869,299,533.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $56.19, for a total transaction of $4,371,582.00. Following the sale, the insider now owns 51,064,238 shares in the company, valued at approximately $2,869,299,533.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $80.65, for a total value of $9,241,118.95. Following the sale, the insider now owns 50,368,272 shares in the company, valued at $4,062,201,136.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,080,732 shares of company stock valued at $79,115,595 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Several hedge funds have recently bought and sold shares of K. Stifel Financial Corp grew its position in Kellanova by 101.6% in the 4th quarter. Stifel Financial Corp now owns 131,173 shares of the company’s stock valued at $7,334,000 after acquiring an additional 66,103 shares during the last quarter. KBC Group NV grew its position in Kellanova by 92.4% in the 4th quarter. KBC Group NV now owns 55,818 shares of the company’s stock valued at $3,121,000 after acquiring an additional 26,809 shares during the last quarter. Jones Financial Companies Lllp grew its position in Kellanova by 14.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,229 shares of the company’s stock valued at $181,000 after acquiring an additional 407 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Kellanova by 208.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 30,855 shares of the company’s stock worth $1,725,000 after buying an additional 20,840 shares in the last quarter. Finally, Cetera Advisor Networks LLC grew its position in shares of Kellanova by 3.3% during the 4th quarter. Cetera Advisor Networks LLC now owns 72,299 shares of the company’s stock worth $4,042,000 after buying an additional 2,318 shares in the last quarter. Institutional investors 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.