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

StockNews.com began coverage on shares of Kellanova (NYSE:K - Get Free Report) in a note issued to investors on Monday. The firm set a "hold" rating on the stock.

A number of other research analysts have also weighed in on K. Piper Sandler raised their price objective on shares of Kellanova from $63.00 to $83.50 and gave the company a "neutral" rating in a research note on Thursday, August 15th. Argus downgraded Kellanova from a "buy" rating to a "hold" rating in a research note on Wednesday, October 2nd. BNP Paribas downgraded Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price objective for the company. in a research note on Friday. Stifel Nicolaus lifted their target price on Kellanova from $64.00 to $76.00 and gave the company a "hold" rating in a research report on Monday, August 12th. Finally, DA Davidson lowered Kellanova from a "buy" rating to a "neutral" rating and increased their price target for the company from $80.00 to $83.50 in a research report on Monday, August 26th. Sixteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Kellanova has a consensus rating of "Hold" and an average target price of $74.96.

Kellanova Trading Down 0.0 %

Kellanova stock traded down $0.01 during trading hours on Monday, reaching $80.60. 1,762,344 shares of the company's stock were exchanged, compared to its average volume of 3,075,931. The firm's 50 day simple moving average is $80.63 and its 200 day simple moving average is $68.53. Kellanova has a twelve month low of $50.81 and a twelve month high of $81.26. The company has a quick ratio of 0.48, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $27.78 billion, a PE ratio of 27.70, a PEG ratio of 2.58 and a beta of 0.39.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company's revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.03 earnings per share. Research analysts predict that Kellanova will post 3.71 earnings per share for the current year.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the completion of the transaction, the insider now owns 50,753,038 shares in the company, valued at $4,062,780,691.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the sale, the insider now directly owns 50,368,272 shares in the company, valued at $4,062,201,136.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the completion of the transaction, the insider now owns 50,753,038 shares of the company's stock, valued at $4,062,780,691.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,227,864 shares of company stock valued at $98,438,243. 1.80% of the stock is owned by insiders.

Institutional Trading of Kellanova

A number of hedge funds and other institutional investors have recently bought and sold shares of K. Blue Trust Inc. raised its position in Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company's stock valued at $27,000 after purchasing an additional 170 shares in the last quarter. Family Firm Inc. bought a new stake in Kellanova in the 2nd quarter worth approximately $29,000. CVA Family Office LLC boosted its stake in shares of 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 purchasing an additional 307 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its position in Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company's stock valued at $30,000 after buying an additional 200 shares during the period. Finally, MCF Advisors LLC increased its holdings in shares of Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company's stock worth $34,000 after buying an additional 137 shares during the period. 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.