Kellanova (NYSE:K) Coverage Initiated by Analysts at StockNews.com

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

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

Kellanova Stock Performance

Kellanova stock traded down $0.07 during midday trading on Friday, hitting $82.23. 721,105 shares of the company's stock were exchanged, compared to its average volume of 2,722,058. Kellanova has a 12-month low of $55.01 and a 12-month high of $83.22. The firm's 50 day simple moving average is $82.35 and its 200 day simple moving average is $81.48. 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 $28.39 billion, a price-to-earnings ratio of 21.25, a price-to-earnings-growth 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 (EPS) 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%. Equities research analysts predict that Kellanova will post 3.93 EPS for the current year.

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Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $82.41, for a total value of $9,442,785.03. Following the completion of the transaction, the insider now owns 47,159,948 shares in the company, valued at $3,886,451,314.68. This represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 1,260,413 shares of company stock valued at $103,672,407. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Kellanova

Several hedge funds and other institutional investors have recently modified their holdings of the business. Fifth Third Bancorp boosted its position in Kellanova by 1.1% during the first quarter. Fifth Third Bancorp now owns 18,264 shares of the company's stock valued at $1,507,000 after buying an additional 204 shares during the period. CX Institutional increased its stake in shares of Kellanova by 10.1% during the first quarter. CX Institutional now owns 6,063 shares of the company's stock valued at $500,000 after purchasing an additional 557 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Kellanova in the first quarter worth $3,793,000. GAMMA Investing LLC increased its position in shares of Kellanova by 2.8% during the first quarter. GAMMA Investing LLC now owns 6,889 shares of the company's stock valued at $568,000 after acquiring an additional 186 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in Kellanova by 3.8% in the 1st quarter. UMB Bank n.a. now owns 5,284 shares of the company's stock worth $436,000 after buying an additional 192 shares in the last quarter. Institutional investors 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.