Kellanova (NYSE:K) Reaches New 1-Year High – Time to Buy?

Kellanova (NYSE:K)’s share price hit a new 52-week high on Monday . The company traded as high as $82.00 and last traded at $81.70, with a volume of 161370 shares changing hands. The stock had previously closed at $81.87.

Analyst Upgrades and Downgrades

K has been the subject of a number of research analyst reports. Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Friday, November 1st. Finally, StockNews.com began coverage on Kellanova in a research report on Thursday. They issued a “hold” rating on the stock. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $76.35.

Kellanova Trading Down 0.2 %

The business’s 50 day simple moving average is $81.03 and its 200-day simple moving average is $77.57. The stock has a market capitalization of $28.15 billion, a P/E ratio of 28.07, a PEG ratio of 2.50 and a beta of 0.37. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53.

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

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $81.21, for a total value of $9,305,285.43. Following the sale, the insider now directly owns 49,222,442 shares of the company’s stock, valued at approximately $3,997,354,514.82. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 916,664 shares of company stock worth $74,339,159. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kellanova

A number of institutional investors have recently bought and sold shares of K. CVA Family Office LLC boosted its stake in shares of Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after acquiring an additional 307 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in shares of Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares during the last quarter. MCF Advisors LLC lifted its stake in shares of Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in Kellanova by 41.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after buying an additional 158 shares during the last quarter. Finally, Mather Group LLC. increased its stake in shares of Kellanova by 71.3% during the third quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after purchasing an additional 256 shares during the period. Institutional investors and hedge funds 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.