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

StockNews.com began coverage on shares of Kellanova (NYSE:K) in a research report issued to clients and investors on Monday. The brokerage set a “hold” rating on the stock.

Other research analysts have also issued reports about the company. Royal Bank of Canada reduced their price target on Kellanova from $70.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 5th. TheStreet lowered Kellanova from a “b-” rating to a “c+” rating in a research report on Wednesday, October 25th. The Goldman Sachs Group reduced their price target on Kellanova from $82.00 to $73.00 and set a “buy” rating on the stock in a research report on Tuesday, October 3rd. TD Cowen began coverage on Kellanova in a research report on Wednesday, September 13th. They issued a “market perform” rating and a $63.00 price target on the stock. Finally, Stifel Nicolaus reduced their price target on Kellanova from $71.00 to $56.00 and set a “hold” rating on the stock in a research report on Friday, October 6th. Twelve equities research 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 an average rating of “Hold” and an average price target of $63.54.

Kellanova Price Performance

K stock traded down $0.28 during midday trading on Monday, reaching $52.52. 3,039,430 shares of the company’s stock traded hands, compared to its average volume of 2,429,782. The company has a 50-day simple moving average of $53.53 and a two-hundred day simple moving average of $61.47. Kellanova has a 1-year low of $47.63 and a 1-year high of $74.72. The company has a market cap of $17.99 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 2.75 and a beta of 0.42. The company has a quick ratio of 0.51, a current ratio of 0.76 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last released its quarterly earnings results on Wednesday, November 8th. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.12. Kellanova had a return on equity of 34.38% and a net margin of 5.21%. The firm had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period last year, the firm posted $1.01 EPS. The business’s revenue was down .2% on a year-over-year basis. On average, analysts anticipate that Kellanova will post 3.95 earnings per share for the current year.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $59.42, for a total transaction of $4,622,876.00. Following the transaction, the insider now owns 54,254,038 shares of the company’s stock, valued at $3,223,774,937.96. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold a total of 700,200 shares of company stock valued at $38,149,230 over the last 90 days. 1.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kellanova

A number of institutional investors have recently made changes to their positions in the company. CGC Financial Services LLC bought a new stake in shares of Kellanova in the second quarter valued at approximately $27,000. Sandy Spring Bank boosted its stake in shares of Kellanova by 902.5% in the second quarter. Sandy Spring Bank now owns 401 shares of the company’s stock valued at $27,000 after buying an additional 361 shares during the period. RFP Financial Group LLC bought a new stake in shares of Kellanova in the second quarter valued at approximately $30,000. Parkside Financial Bank & Trust boosted its stake in shares of Kellanova by 48.0% in the first quarter. Parkside Financial Bank & Trust now owns 453 shares of the company’s stock valued at $30,000 after buying an additional 147 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in Kellanova by 402.2% during the first quarter. EverSource Wealth Advisors LLC now owns 462 shares of the company’s stock worth $31,000 after purchasing an additional 370 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

About Kellanova

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods. The company operates through four segments: North America, Europe, Latin America, Asia, the Middle East, 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.