Kellanova (NYSE:K) Price Target Increased to $58.00 by Analysts at Wells Fargo & Company

Kellanova (NYSE:KFree Report) had its price target hoisted by Wells Fargo & Company from $56.00 to $58.00 in a research note issued to investors on Friday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other analysts have also commented on K. StockNews.com upgraded Kellanova from a hold rating to a buy rating in a report on Monday, January 15th. Barclays raised Kellanova from an underweight rating to an equal weight rating and decreased their target price for the stock from $57.00 to $55.00 in a research report on Thursday, November 9th. Citigroup began coverage on Kellanova in a research report on Thursday, February 1st. They issued a neutral rating and a $57.00 target price for the company. Morgan Stanley decreased their target price on Kellanova from $68.00 to $57.00 and set an equal weight rating for the company in a research report on Thursday, November 9th. Finally, TheStreet downgraded Kellanova from a b- rating to a c+ rating in a research report on Wednesday, October 25th. Fourteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $62.00.

View Our Latest Report on Kellanova

Kellanova Stock Down 2.6 %

K stock opened at $53.49 on Friday. Kellanova has a twelve month low of $47.63 and a twelve month high of $72.30. The company has a quick ratio of 0.51, a current ratio of 0.76 and a debt-to-equity ratio of 1.29. The stock’s 50 day moving average is $54.79 and its 200-day moving average is $56.18. The firm has a market capitalization of $18.32 billion, a PE ratio of 22.47, a P/E/G ratio of 2.14 and a beta of 0.39.

Kellanova (NYSE:KGet Free Report) last posted its earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.07 billion. Kellanova had a return on equity of 34.38% and a net margin of 5.21%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the company earned $0.94 earnings per share. Sell-side analysts expect that Kellanova will post 4.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $53.89, for a total value of $4,192,642.00. Following the completion of the sale, the insider now owns 53,320,438 shares in the company, valued at approximately $2,873,438,403.82. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last 90 days, insiders sold 700,200 shares of company stock worth $37,956,286. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Kellanova by 1.2% in the 1st quarter. BlackRock Inc. now owns 31,697,821 shares of the company’s stock worth $2,122,486,000 after buying an additional 369,648 shares during the last quarter. Vanguard Group Inc. lifted its position in Kellanova by 2.3% during the first quarter. Vanguard Group Inc. now owns 29,353,099 shares of the company’s stock valued at $1,892,981,000 after purchasing an additional 646,828 shares in the last quarter. State Street Corp lifted its position in Kellanova by 2.6% during the first quarter. State Street Corp now owns 14,696,120 shares of the company’s stock valued at $947,753,000 after purchasing an additional 369,620 shares in the last quarter. Geode Capital Management LLC lifted its position in Kellanova by 3.5% during the second quarter. Geode Capital Management LLC now owns 5,855,495 shares of the company’s stock valued at $393,670,000 after purchasing an additional 196,091 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Kellanova by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company’s stock valued at $316,323,000 after purchasing an additional 98,294 shares in 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. 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.

Recommended Stories

Analyst Recommendations for Kellanova (NYSE:K)

Receive News & Ratings for Kellanova Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kellanova and related companies with MarketBeat.com's FREE daily email newsletter.