Kellanova (NYSE:K) Given Consensus Rating of “Hold” by Brokerages

Kellanova (NYSE:K) has been assigned an average rating of “Hold” from the fifteen research firms that are covering the firm, MarketBeat Ratings reports. Fourteen investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $76.35.

Several analysts have recently weighed in on the stock. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. StockNews.com assumed coverage on Kellanova in a research report on Thursday, January 23rd. They set a “hold” rating for the company. Finally, BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research report on Friday, November 1st.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 49,222,442 shares of the company’s stock, valued at approximately $3,997,354,514.82. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 916,664 shares of company stock worth $74,339,159. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kellanova

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Swedbank AB boosted its position in shares of Kellanova by 20.5% during the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after purchasing an additional 46,450 shares in the last quarter. Toronto Dominion Bank lifted its stake in shares of Kellanova by 5.1% in the third quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock valued at $14,435,000 after purchasing an additional 8,686 shares during the period. Principal Financial Group Inc. boosted its holdings in Kellanova by 6.9% during the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after buying an additional 24,067 shares in the last quarter. Wedmont Private Capital acquired a new position in Kellanova during the fourth quarter worth about $384,000. Finally, Barclays PLC increased its holdings in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after buying an additional 1,033,383 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Price Performance

Shares of Kellanova stock opened at $81.97 on Thursday. The firm has a market cap of $28.25 billion, a PE ratio of 28.17, a PEG ratio of 2.50 and a beta of 0.37. The stock has a 50 day moving average of $81.03 and a 200 day moving average of $77.57. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. Kellanova has a 12 month low of $52.46 and a 12 month high of $82.06.

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

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.