Kellanova (NYSE:K) PT Raised to $76.00 at Stifel Nicolaus

Kellanova (NYSE:K) had its target price lifted by stock analysts at Stifel Nicolaus from $64.00 to $76.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 2.01% from the stock’s previous close.

Several other research firms also recently weighed in on K. Bank of America raised shares of Kellanova from a “neutral” rating to a “buy” rating and lifted their price target for the company from $62.00 to $70.00 in a research note on Friday, August 2nd. Evercore ISI raised shares of Kellanova to a “hold” rating in a research note on Friday, August 2nd. Royal Bank of Canada raised shares of Kellanova from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $62.00 to $76.00 in a research note on Monday, August 5th. Barclays boosted their price objective on shares of Kellanova from $61.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Finally, TD Cowen boosted their price objective on shares of Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Twelve investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Kellanova has an average rating of “Hold” and a consensus price target of $68.36.

Kellanova Stock Up 0.7 %

Shares of NYSE:K opened at $74.50 on Monday. Kellanova has a 1 year low of $47.63 and a 1 year high of $75.48. The business has a 50 day simple moving average of $60.19 and a two-hundred day simple moving average of $58.23. The firm has a market capitalization of $25.47 billion, a PE ratio of 27.90, a price-to-earnings-growth ratio of 2.22 and a beta of 0.34. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.41.

Kellanova (NYSE:K) last announced its earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the business earned $1.25 earnings per share. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, equities analysts predict that Kellanova will post 3.68 EPS for the current year.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $60.16, for a total transaction of $4,680,448.00. Following the sale, the insider now directly owns 51,531,038 shares of the company’s stock, valued at $3,100,107,246.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 778,000 shares of company stock valued at $46,419,370 over the last ninety days. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kellanova

Several hedge funds have recently added to or reduced their stakes in the business. Frank Rimerman Advisors LLC purchased a new stake in Kellanova in the second quarter valued at $1,706,000. ProShare Advisors LLC boosted its holdings in Kellanova by 5.5% in the second quarter. ProShare Advisors LLC now owns 49,985 shares of the company’s stock valued at $2,883,000 after purchasing an additional 2,609 shares during the last quarter. Summit Trail Advisors LLC purchased a new stake in Kellanova in the second quarter valued at $205,000. Thrivent Financial for Lutherans boosted its holdings in Kellanova by 8.2% in the second quarter. Thrivent Financial for Lutherans now owns 20,250 shares of the company’s stock valued at $1,168,000 after purchasing an additional 1,538 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Kellanova by 5.3% in the second quarter. Sei Investments Co. now owns 83,392 shares of the company’s stock valued at $4,810,000 after purchasing an additional 4,197 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Company Profile

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.