Kellanova (NYSE:K) Rating Lowered to “Neutral” at BNP Paribas

Kellanova (NYSE:K) was downgraded by stock analysts at BNP Paribas from an “outperform” rating to a “neutral” rating in a research note issued on Friday, Briefing.com reports. They currently have a $83.00 price target on the stock. BNP Paribas’ target price points to a potential upside of 2.91% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Stifel Nicolaus increased their price objective on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a report on Monday, August 12th. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $76.00 to $83.50 in a research note on Thursday, August 15th. StockNews.com began coverage on shares of Kellanova in a research note on Sunday, October 27th. They issued a “hold” rating for the company. The Goldman Sachs Group began coverage on shares of Kellanova in a research note on Monday, August 12th. They issued a “neutral” rating and a $75.00 target price for the company. Finally, Bank of America raised shares of Kellanova from a “neutral” rating to a “buy” rating and upped their target price for the company from $62.00 to $70.00 in a research note on Friday, August 2nd. Sixteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Kellanova has a consensus rating of “Hold” and a consensus price target of $74.96.

Kellanova Price Performance

Shares of K stock opened at $80.65 on Friday. Kellanova has a 1 year low of $50.14 and a 1 year high of $81.26. The firm’s 50 day moving average is $80.63 and its 200-day moving average is $68.09. The firm has a market capitalization of $27.80 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 2.60 and a beta of 0.39. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46.

Kellanova (NYSE:K) last announced its earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period in the prior year, the business earned $1.25 earnings per share. Kellanova’s quarterly revenue was down 4.7% on a year-over-year basis. Sell-side analysts forecast that Kellanova will post 3.7 EPS for the current fiscal year.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total value of $6,227,890.00. Following the completion of the sale, the insider now owns 50,753,038 shares in the company, valued at $4,062,780,691.90. This trade 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 through this link. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.96, for a total transaction of $9,276,639.68. Following the completion of the sale, the insider now owns 49,795,357 shares in the company, valued at approximately $4,031,432,102.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated 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 owns 50,753,038 shares of the company’s stock, valued at approximately $4,062,780,691.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,227,864 shares of company stock worth $98,438,243 over the last quarter. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kellanova

A number of hedge funds have recently bought and sold shares of K. Norden Group LLC bought a new stake in shares of Kellanova during the 1st quarter valued at approximately $395,000. Sequoia Financial Advisors LLC grew its holdings in shares of Kellanova by 23.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 9,751 shares of the company’s stock valued at $559,000 after purchasing an additional 1,841 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Kellanova by 18.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,172 shares of the company’s stock valued at $6,827,000 after purchasing an additional 18,224 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Kellanova by 95.9% during the 1st quarter. BNP Paribas Financial Markets now owns 969,096 shares of the company’s stock worth $55,520,000 after buying an additional 474,530 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in Kellanova by 3.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 42,382 shares of the company’s stock worth $2,428,000 after buying an additional 1,504 shares during the period. 83.87% of the stock is owned by institutional investors.

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.