Kellanova (NYSE:K) Now Covered by StockNews.com

Research analysts at StockNews.com started coverage on shares of Kellanova (NYSE:K - Get Free Report) in a research note issued on Saturday. The brokerage set a "hold" rating on the stock.

A number of other research firms have also recently issued reports on K. BNP Paribas cut Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price target for the company. in a report on Friday, November 1st. DA Davidson cut shares of Kellanova from a "buy" rating to a "neutral" rating and raised their price objective for the company from $80.00 to $83.50 in a research report on Monday, August 26th. Finally, Argus lowered shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Wednesday, October 2nd. Fifteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Kellanova currently has a consensus rating of "Hold" and a consensus price target of $76.35.

Kellanova Price Performance

K traded down $0.15 during midday trading on Friday, reaching $80.56. 2,632,314 shares of the company's stock were exchanged, compared to its average volume of 2,939,740. Kellanova has a one year low of $52.46 and a one year high of $81.34. The firm has a market capitalization of $27.77 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 2.59 and a beta of 0.38. The business has a 50-day simple moving average of $80.82 and a two-hundred day simple moving average of $72.57. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company had revenue of $3.23 billion during the quarter, compared to analysts' expectations of $3.16 billion. During the same period last year, the business earned $1.03 earnings per share. The business's revenue was down .7% on a year-over-year basis. As a group, research analysts predict that Kellanova will post 3.74 EPS for the current year.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $80.68, for a total value of $9,244,556.44. Following the completion of the transaction, the insider now owns 50,253,689 shares in the company, valued at $4,054,467,628.52. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 1,145,830 shares of company stock valued at $92,568,168 over the last three months. Company insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Kellanova

Hedge funds have recently bought and sold shares of the company. Investors Research Corp lifted its holdings in Kellanova by 1.0% during the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company's stock valued at $1,049,000 after purchasing an additional 125 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Kellanova by 26.2% during the 3rd quarter. Assetmark Inc. now owns 631 shares of the company's stock worth $51,000 after buying an additional 131 shares during the last quarter. MCF Advisors LLC grew its stake in Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company's stock valued at $34,000 after buying an additional 137 shares during the last quarter. S.A. Mason LLC raised its holdings in Kellanova by 7.6% in the 3rd quarter. S.A. Mason LLC now owns 1,987 shares of the company's stock valued at $160,000 after acquiring an additional 140 shares during the period. Finally, Sanctuary Advisors LLC lifted its position in Kellanova by 1.7% during the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company's stock worth $690,000 after acquiring an additional 145 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

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.