Kellanova (NYSE:K) Now Covered by StockNews.com

StockNews.com started coverage on shares of Kellanova (NYSE:K) in a research note issued to investors on Friday morning. The firm issued a hold rating on the stock.

Separately, BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a report on Friday, November 1st. Fourteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $77.96.

Kellanova Trading Down 0.2 %

Shares of NYSE K opened at $81.74 on Friday. Kellanova has a twelve month low of $52.46 and a twelve month high of $82.06. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The business has a fifty day simple moving average of $81.14 and a two-hundred day simple moving average of $78.31. The firm has a market cap of $28.18 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 2.51 and a beta of 0.37.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm earned $1.03 earnings per share. Analysts expect that Kellanova will post 3.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $81.91, for a total value of $9,385,493.53. Following the transaction, the insider now owns 48,305,778 shares in the company, valued at approximately $3,956,726,275.98. This represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 1,031,247 shares of company stock worth $83,724,652 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of Kellanova by 14.7% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,107 shares of the company’s stock worth $737,000 after acquiring an additional 1,164 shares during the period. Atria Wealth Solutions Inc. lifted its holdings in shares of Kellanova by 16.2% in the 4th quarter. Atria Wealth Solutions Inc. now owns 7,985 shares of the company’s stock valued at $647,000 after buying an additional 1,114 shares during the period. Kornitzer Capital Management Inc. KS boosted its stake in shares of Kellanova by 1.7% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 244,300 shares of the company’s stock valued at $19,781,000 after buying an additional 3,985 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in Kellanova by 18.3% during the fourth quarter. Venturi Wealth Management LLC now owns 1,494 shares of the company’s stock worth $121,000 after acquiring an additional 231 shares during the period. Finally, D.A. Davidson & CO. raised its position in Kellanova by 11.7% in the fourth quarter. D.A. Davidson & CO. now owns 22,455 shares of the company’s stock worth $1,818,000 after acquiring an additional 2,347 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

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.