Kellanova (NYSE:K) Rating Lowered to Hold at StockNews.com

Kellanova (NYSE:KGet Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

K has been the subject of a number of other research reports. JPMorgan Chase & Co. upped their price target on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday. Stifel Nicolaus upped their price target on shares of Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Wells Fargo & Company upped their price target on shares of Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday. Morgan Stanley cut their price target on shares of Kellanova from $68.00 to $57.00 and set an “equal weight” rating for the company in a report on Thursday, November 9th. Finally, Citigroup started coverage on shares of Kellanova in a report on Thursday, February 1st. They set a “neutral” rating and a $57.00 price target for the company. Thirteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $61.36.

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Kellanova Stock Performance

Shares of K stock opened at $53.49 on Friday. The company has a market capitalization of $18.32 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 2.19 and a beta of 0.39. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.51 and a current ratio of 0.66. The company has a 50-day simple moving average of $54.79 and a 200 day simple moving average of $56.10. Kellanova has a 52 week low of $47.63 and a 52 week high of $72.30.

Kellanova (NYSE:KGet Free Report) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 EPS. On average, sell-side analysts predict that Kellanova will post 3.59 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $52.21, for a total transaction of $4,061,938.00. Following the transaction, the insider now directly owns 53,398,238 shares of the company’s stock, valued at $2,787,922,005.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 700,200 shares of company stock valued at $37,956,286 over the last ninety days. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in K. Cantor Fitzgerald Investment Advisor L.P raised its holdings in shares of Kellanova by 95.3% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 424,951 shares of the company’s stock valued at $27,405,000 after purchasing an additional 207,392 shares during the last quarter. HighTower Advisors LLC increased its holdings in Kellanova by 16.7% during the first quarter. HighTower Advisors LLC now owns 18,121 shares of the company’s stock worth $1,167,000 after buying an additional 2,590 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Kellanova by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,232 shares of the company’s stock worth $2,208,000 after buying an additional 2,119 shares during the last quarter. Raymond James Trust N.A. increased its holdings in Kellanova by 46.9% during the first quarter. Raymond James Trust N.A. now owns 8,653 shares of the company’s stock worth $558,000 after buying an additional 2,764 shares during the last quarter. Finally, Cibc World Market Inc. increased its holdings in Kellanova by 6.4% during the first quarter. Cibc World Market Inc. now owns 38,670 shares of the company’s stock worth $2,494,000 after buying an additional 2,313 shares during the last quarter. 83.87% of the stock is owned by institutional investors.

Kellanova Company Profile

(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.

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