Barclays Boosts Kellanova (NYSE:K) Price Target to $60.00

Kellanova (NYSE:KFree Report) had its price objective boosted by Barclays from $55.00 to $60.00 in a report issued on Monday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other analysts also recently weighed in on K. Stifel Nicolaus raised their price target on shares of Kellanova from $56.00 to $58.00 and gave the stock a hold rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. lifted their price objective on shares of Kellanova from $53.00 to $59.00 and gave the stock a neutral rating in a report on Friday. TheStreet downgraded shares of Kellanova from a b- rating to a c+ rating in a report on Wednesday, October 25th. Piper Sandler lifted their price objective on shares of Kellanova from $59.00 to $60.00 and gave the stock a neutral rating in a report on Monday. Finally, Wells Fargo & Company lifted their price objective on shares of Kellanova from $56.00 to $58.00 and gave the stock an equal weight rating in a report on Friday. Thirteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $61.93.

View Our Latest Research Report on K

Kellanova Stock Up 2.2 %

K stock opened at $54.65 on Monday. Kellanova has a twelve month low of $47.63 and a twelve month high of $72.30. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $18.72 billion, a P/E ratio of 19.87, a PEG ratio of 2.13 and a beta of 0.39. The firm has a 50 day simple moving average of $54.81 and a 200-day simple moving average of $55.93.

Kellanova (NYSE:KGet Free Report) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter last year, the company earned $0.94 earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities research analysts predict that Kellanova will post 3.58 earnings per share for the current fiscal year.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $53.89, for a total transaction of $4,192,642.00. Following the sale, the insider now directly owns 53,320,438 shares in the company, valued at $2,873,438,403.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 700,200 shares of company stock worth $37,956,286 over the last ninety days. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kellanova

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sandy Spring Bank grew its holdings in Kellanova by 902.5% during the second quarter. Sandy Spring Bank now owns 401 shares of the company’s stock worth $27,000 after acquiring an additional 361 shares during the period. CGC Financial Services LLC purchased a new position in Kellanova in the 2nd quarter worth about $27,000. Oakworth Capital Inc. increased its stake in Kellanova by 491.3% in the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after purchasing an additional 393 shares in the last quarter. RFP Financial Group LLC purchased a new position in Kellanova in the 2nd quarter worth about $30,000. Finally, Norwood Financial Corp increased its stake in Kellanova by 81.8% in the 3rd quarter. Norwood Financial Corp now owns 500 shares of the company’s stock worth $30,000 after purchasing an additional 225 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors.

Kellanova Company Profile

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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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