Kellanova (NYSE:K) Downgraded to “Neutral” Rating by BNP Paribas

Kellanova (NYSE:K) was downgraded by equities researchers at BNP Paribas from an “outperform” rating to a “neutral” rating in a report released on Friday, Marketbeat reports. They currently have a $83.00 price target on the stock. BNP Paribas’ price target would suggest a potential upside of 2.96% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Argus cut Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Bank of America raised Kellanova from a “neutral” rating to a “buy” rating and increased their price objective for the company from $62.00 to $70.00 in a research report on Friday, August 2nd. Piper Sandler boosted their target price on shares of Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada lowered shares of Kellanova from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. Sixteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $74.96.

Kellanova Trading Down 0.0 %

Shares of K stock opened at $80.61 on Friday. The business’s 50 day moving average is $80.63 and its two-hundred day moving average is $68.27. The company has a quick ratio of 0.48, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Kellanova has a 12 month low of $50.81 and a 12 month high of $81.26. The company has a market cap of $27.78 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 2.58 and a beta of 0.39.

Kellanova (NYSE:K) last posted its earnings results 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 business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. Kellanova’s revenue was down .7% compared to the same quarter last year. During the same period last year, the business posted $1.03 EPS. Equities analysts predict that Kellanova will post 3.71 EPS for the current year.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the sale, the insider now directly owns 50,482,855 shares in the company, valued at $4,051,249,113.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $80.25, for a total value of $9,195,285.75. Following the transaction, the insider now directly owns 50,482,855 shares in the company, valued at $4,051,249,113.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the sale, the insider now directly owns 50,753,038 shares of the company’s stock, valued at approximately $4,062,780,691.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,227,864 shares of company stock valued at $98,438,243. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Swedbank AB increased its holdings in shares of Kellanova by 20.5% in the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock valued at $22,076,000 after purchasing an additional 46,450 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Kellanova by 4.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock valued at $14,705,000 after acquiring an additional 10,676 shares during the period. SG Americas Securities LLC boosted its holdings in Kellanova by 498.7% in the second quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock valued at $15,049,000 after acquiring an additional 217,320 shares during the last quarter. M&G Plc acquired a new stake in Kellanova in the first quarter worth about $9,346,000. Finally, Atria Investments Inc bought a new stake in Kellanova during the 1st quarter worth about $1,003,000. 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.