Kellanova (NYSE:K) Coverage Initiated at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Kellanova (NYSE:K) in a research report issued to clients and investors on Wednesday. The firm set a “hold” rating on the stock.

Several other brokerages also recently issued reports on K. Stifel Nicolaus raised their target price on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Royal Bank of Canada lowered Kellanova from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. The Goldman Sachs Group initiated coverage on Kellanova in a report on Monday, August 12th. They set a “neutral” rating and a $75.00 price target for the company. BNP Paribas raised shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price objective for the company in a research report on Monday, August 5th. Finally, Piper Sandler raised their target price on shares of Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Fourteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $74.32.

Kellanova Stock Up 0.1 %

NYSE:K opened at $80.64 on Wednesday. The company has a market cap of $27.57 billion, a PE ratio of 30.17, a PEG ratio of 2.59 and a beta of 0.39. The stock has a 50-day simple moving average of $73.82 and a 200 day simple moving average of $63.62. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. Kellanova has a 52-week low of $47.63 and a 52-week high of $80.97.

Kellanova (NYSE:K) last released its earnings results on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 earnings per share. On average, sell-side analysts expect that Kellanova will post 3.7 EPS for the current fiscal year.

Insider Activity at Kellanova

In other 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 stock was sold at an average price of $80.25, for a total transaction 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. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $56.19, for a total transaction of $4,371,582.00. Following the completion of the transaction, the insider now directly owns 51,064,238 shares of the company’s stock, valued at approximately $2,869,299,533.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’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 completion of the sale, the insider now owns 50,482,855 shares in the company, valued at approximately $4,051,249,113.75. The disclosure for this sale can be found here. Insiders have sold a total of 966,149 shares of company stock valued at $69,866,455 in the last 90 days. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Kellanova

Institutional investors have recently bought and sold shares of the company. D. E. Shaw & Co. Inc. grew its position in shares of Kellanova by 766.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after buying an additional 1,664,461 shares during the period. Maverick Capital Ltd. acquired a new stake in Kellanova in the second quarter worth $88,065,000. Vanguard Group Inc. grew its holdings in Kellanova by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock worth $1,797,525,000 after purchasing an additional 1,130,582 shares during the period. Point72 Asset Management L.P. bought a new stake in Kellanova in the second quarter valued at $63,585,000. Finally, Boston Partners raised its holdings in shares of Kellanova by 117.1% during the first quarter. Boston Partners now owns 1,278,079 shares of the company’s stock valued at $73,221,000 after purchasing an additional 689,395 shares during the period. Institutional investors own 83.87% of the company’s stock.

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.