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

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

Separately, Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $77.96.

Kellanova Price Performance

NYSE K traded up $0.56 during trading on Friday, hitting $82.25. 5,288,225 shares of the company's stock were exchanged, compared to its average volume of 2,726,658. The stock's 50 day moving average price is $82.32 and its two-hundred day moving average price is $81.44. Kellanova has a fifty-two week low of $55.01 and a fifty-two week high of $83.22. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The company has a market cap of $28.39 billion, a PE ratio of 21.25, a P/E/G ratio of 4.21 and a beta of 0.34.

Kellanova (NYSE:K - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Research analysts expect that Kellanova will post 3.93 EPS for the current year.

Remove Ads

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $81.69, for a total transaction of $9,360,285.27. Following the transaction, the insider now owns 48,420,361 shares in the company, valued at $3,955,459,290.09. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have sold 1,260,413 shares of company stock valued at $103,558,970. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kellanova

Several hedge funds and other institutional investors have recently bought and sold shares of K. Stonebridge Financial Group LLC bought a new stake in shares of Kellanova during the fourth quarter valued at approximately $27,000. BankPlus Trust Department bought a new stake in Kellanova during the 4th quarter valued at $28,000. Rialto Wealth Management LLC acquired a new position in Kellanova during the fourth quarter worth $32,000. Flagship Wealth Advisors LLC bought a new position in shares of Kellanova in the fourth quarter valued at $32,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock valued at $36,000 after buying an additional 173 shares during the last quarter. 83.87% of the stock is owned by 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.