Kellanova (NYSE:K) Now Covered by Analysts at StockNews.com

Analysts at StockNews.com began coverage on shares of Kellanova (NYSE:K) in a report released on Wednesday. The brokerage set a “hold” rating on the stock.

A number of other brokerages also recently commented on K. Stifel Nicolaus boosted their price objective on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Royal Bank of Canada lowered Kellanova from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. Evercore ISI upgraded Kellanova to a “hold” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised their price target on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, Barclays boosted their price target on Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $76.35.

Kellanova Price Performance

K stock opened at $80.50 on Wednesday. The firm has a 50-day moving average of $80.73 and a two-hundred day moving average of $70.29. The firm has a market capitalization of $27.75 billion, a PE ratio of 27.66, a P/E/G ratio of 2.59 and a beta of 0.39. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. Kellanova has a one year low of $51.02 and a one year high of $81.34.

Kellanova (NYSE:K) last issued its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. Kellanova’s revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 earnings per share. On average, analysts forecast that Kellanova will post 3.74 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 on Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total value of $6,272,236.00. Following the transaction, the insider now directly owns 50,597,438 shares in the company, valued at approximately $4,079,165,451.56. This trade represents a 0.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 994,464 shares of company stock worth $80,203,479 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Several large investors have recently made changes to their positions in the company. D. E. Shaw & Co. Inc. grew its holdings in Kellanova by 766.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after acquiring an additional 1,664,461 shares during the period. Maverick Capital Ltd. bought a new position in shares of Kellanova in the 2nd quarter worth $88,065,000. Westchester Capital Management LLC acquired a new stake in shares of Kellanova during the third quarter worth $107,795,000. Point72 Asset Management L.P. acquired a new stake in shares of Kellanova during the second quarter worth $63,585,000. Finally, Barclays PLC increased its holdings in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after purchasing an additional 1,033,383 shares during the last quarter. 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.