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

Investment analysts at StockNews.com initiated coverage on shares of Kellanova (NYSE:K) in a research report issued on Monday. The firm set a “hold” rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Piper Sandler cut their price objective on shares of Kellanova from $72.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday, October 2nd. BNP Paribas raised shares of Kellanova from an “underperform” rating to a “neutral” rating and set a $55.00 price target on the stock in a research report on Tuesday, October 3rd. JPMorgan Chase & Co. dropped their price target on shares of Kellanova from $73.00 to $72.00 and set a “neutral” rating on the stock in a research report on Thursday, August 10th. Royal Bank of Canada dropped their price target on shares of Kellanova from $70.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 5th. Finally, Morgan Stanley dropped their price target on shares of Kellanova from $68.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 9th. Twelve investment 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 an average rating of “Hold” and an average price target of $63.54.

Kellanova Stock Down 0.5 %

Shares of K stock traded down $0.28 on Monday, reaching $52.52. 3,039,430 shares of the company were exchanged, compared to its average volume of 2,429,782. The company has a market cap of $17.99 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 2.75 and a beta of 0.42. The company has a 50-day moving average of $53.53 and a 200-day moving average of $61.47. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.76 and a quick ratio of 0.51. Kellanova has a one year low of $47.63 and a one year high of $74.72.

Kellanova (NYSE:K) last released its quarterly earnings data on Wednesday, November 8th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.12. The company had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Kellanova had a net margin of 5.21% and a return on equity of 34.38%. The business’s revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 EPS. Analysts anticipate that Kellanova will post 3.95 earnings per share for the current year.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $59.66, for a total transaction of $4,641,548.00. Following the completion of the sale, the insider now owns 54,176,238 shares in the company, valued at approximately $3,232,154,359.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 700,200 shares of company stock worth $38,149,230 in the last quarter. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Kellanova

Several large investors have recently modified their holdings of K. Savoie Capital LLC purchased a new position in Kellanova in the 3rd quarter valued at approximately $472,000. Diversified Trust Co purchased a new position in Kellanova in the 3rd quarter valued at approximately $257,000. Jacobs Levy Equity Management Inc. purchased a new position in Kellanova in the 3rd quarter valued at approximately $678,000. Integrated Advisors Network LLC grew its stake in Kellanova by 16.5% in the 3rd quarter. Integrated Advisors Network LLC now owns 4,542 shares of the company’s stock valued at $270,000 after buying an additional 643 shares in the last quarter. Finally, Creative Planning boosted its holdings in Kellanova by 14.7% in the 3rd quarter. Creative Planning now owns 31,670 shares of the company’s stock valued at $1,885,000 after purchasing an additional 4,056 shares during the period. Hedge funds and other 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. The company operates through four segments: North America, Europe, Latin America, Asia, the Middle East, 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.