Kellanova (NYSE:K) PT Raised to $64.00 at Barclays

Kellanova (NYSE:K) had its price objective hoisted by Barclays from $60.00 to $64.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential upside of 3.83% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Stifel Nicolaus increased their price target on shares of Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Citigroup began coverage on Kellanova in a research report on Thursday, February 1st. They set a “neutral” rating and a $57.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. TD Cowen lifted their price target on shares of Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Finally, DA Davidson began coverage on shares of Kellanova in a research note on Friday, March 1st. They issued a “buy” rating and a $67.00 price objective on the stock. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $61.46.

Kellanova Stock Performance

K opened at $61.64 on Monday. Kellanova has a 12-month low of $47.63 and a 12-month high of $71.53. The firm has a market capitalization of $21.07 billion, a P/E ratio of 23.09, a price-to-earnings-growth ratio of 2.32 and a beta of 0.39. The stock’s 50 day moving average price is $56.42 and its two-hundred day moving average price is $54.80. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the firm posted $1.10 EPS. The business’s revenue was down 4.2% compared to the same quarter last year. On average, equities analysts forecast that Kellanova will post 3.58 earnings per share for the current year.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $60.92, for a total value of $4,739,576.00. Following the completion of the sale, the insider now directly owns 51,764,438 shares in the company, valued at $3,153,489,562.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $60.92, for a total value of $4,739,576.00. Following the completion of the transaction, the insider now directly owns 51,764,438 shares in the company, valued at approximately $3,153,489,562.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Nicolas Amaya sold 9,800 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the sale, the senior vice president now owns 26,191 shares in the company, valued at approximately $1,572,769.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,021,200 shares of company stock worth $57,219,110. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sei Investments Co. grew its position in Kellanova by 2.6% during the 1st quarter. Sei Investments Co. now owns 79,195 shares of the company’s stock worth $4,537,000 after acquiring an additional 1,984 shares during the last quarter. Significant Wealth Partners LLC raised its stake in shares of Kellanova by 170.0% during the first quarter. Significant Wealth Partners LLC now owns 16,821 shares of the company’s stock valued at $964,000 after acquiring an additional 10,592 shares during the last quarter. Forsta AP Fonden grew its stake in shares of Kellanova by 1.2% in the first quarter. Forsta AP Fonden now owns 171,000 shares of the company’s stock worth $9,797,000 after purchasing an additional 2,100 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Kellanova in the first quarter worth $3,137,000. Finally, SG Americas Securities LLC raised its position in Kellanova by 29.9% during the 1st quarter. SG Americas Securities LLC now owns 43,581 shares of the company’s stock worth $2,497,000 after purchasing an additional 10,022 shares during the last quarter. 83.87% of the stock is owned by institutional investors.

About Kellanova

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.