Investment analysts at StockNews.com initiated coverage on shares of Kellanova (NYSE:K - Get Free Report) in a research note issued on Thursday. The firm set a "hold" rating on the stock.
Separately, Royal Bank of Canada upgraded Kellanova from a "sector perform" rating to an "outperform" rating and set a $83.50 price objective for the company in a research report on Tuesday, February 18th. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $77.96.
Check Out Our Latest Research Report on Kellanova
Kellanova Price Performance
NYSE K traded up $0.07 on Thursday, reaching $82.40. The company's stock had a trading volume of 3,087,145 shares, compared to its average volume of 2,547,378. Kellanova has a twelve month low of $55.01 and a twelve month high of $83.22. The firm's 50 day moving average is $82.14 and its two-hundred day moving average is $81.25. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The stock has a market cap of $28.44 billion, a PE ratio of 21.29, a PEG ratio of 4.21 and a beta of 0.31.
Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. As a group, sell-side analysts predict that Kellanova will post 3.93 EPS for the current year.
Insider Transactions at Kellanova
In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $80.64, for a total value of $9,239,973.12. Following the transaction, the insider now directly owns 48,878,693 shares of the company's stock, valued at approximately $3,941,577,803.52. 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 accessible through this link. Insiders have sold a total of 1,374,996 shares of company stock worth $112,530,818 in the last 90 days. 1.80% of the stock is owned by insiders.
Hedge Funds Weigh In On Kellanova
A number of institutional investors have recently modified their holdings of K. Stonebridge Financial Group LLC acquired a new stake in shares of Kellanova in the fourth quarter valued at about $27,000. BankPlus Trust Department acquired a new stake in Kellanova in the 4th quarter valued at approximately $28,000. Rialto Wealth Management LLC bought a new position in Kellanova in the 4th quarter worth approximately $32,000. Flagship Wealth Advisors LLC bought a new position in Kellanova in the 4th quarter worth approximately $32,000. Finally, First Horizon Advisors Inc. lifted 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 worth $36,000 after buying an additional 173 shares during the last quarter. Institutional investors own 83.87% of the company's stock.
About Kellanova
(
Get Free Report)
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.
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