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 note issued to investors on Tuesday. The firm set a "hold" rating on the stock.

Several other equities research analysts have also recently issued reports on the company. Argus cut Kellanova from a "buy" rating to a "hold" rating in a research note on Wednesday, October 2nd. BNP Paribas lowered Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price target for the company. in a research report on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Kellanova presently has an average rating of "Hold" and an average price target of $76.35.

Kellanova Price Performance

Shares of NYSE:K traded up $0.12 during midday trading on Tuesday, hitting $81.34. The company had a trading volume of 2,514,823 shares, compared to its average volume of 2,015,875. Kellanova has a twelve month low of $52.46 and a twelve month high of $81.39. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The stock has a market cap of $28.04 billion, a price-to-earnings ratio of 27.95, a price-to-earnings-growth ratio of 2.59 and a beta of 0.37. The business's 50-day simple moving average is $80.82 and its 200-day simple moving average is $75.17.

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

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.96, for a total transaction of $9,276,639.68. Following the sale, the insider now owns 49,795,357 shares in the company, valued at approximately $4,031,432,102.72. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 1,031,247 shares of company stock valued at $83,418,716 in the last ninety days. Insiders own 1.80% of the company's stock.

Institutional Trading of Kellanova

A number of hedge funds and other institutional investors have recently made changes to their positions in K. CVA Family Office LLC increased its position in Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company's stock valued at $29,000 after acquiring an additional 307 shares during the period. Newbridge Financial Services Group Inc. increased its position in Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company's stock valued at $30,000 after acquiring an additional 200 shares during the period. MCF Advisors LLC increased its position 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 acquiring an additional 137 shares during the period. Capital Advisors Ltd. LLC increased its position in Kellanova by 41.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company's stock worth $44,000 after purchasing an additional 158 shares during the period. Finally, Mather Group LLC. increased its position in Kellanova by 71.3% during the 3rd quarter. Mather Group LLC. now owns 615 shares of the company's stock worth $50,000 after purchasing an additional 256 shares during the period. Institutional investors and hedge funds own 83.87% of the company's stock.

Kellanova Company Profile

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.