Kellanova (NYSE:K) Now Covered by StockNews.com

StockNews.com began coverage on shares of Kellanova (NYSE:K) in a report issued on Thursday morning. The firm issued a hold rating on the stock.

Several other analysts also recently commented on the stock. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research report on Friday, November 1st. Fifteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $76.35.

Kellanova Stock Performance

NYSE K opened at $81.78 on Thursday. The company has a market cap of $28.19 billion, a P/E ratio of 28.10, a PEG ratio of 2.50 and a beta of 0.37. The company has a fifty day simple moving average of $80.99 and a 200 day simple moving average of $77.21. 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 $81.82.

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

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $80.76, for a total value of $9,253,723.08. Following the sale, the insider now owns 49,680,774 shares of the company’s stock, valued at $4,012,219,308.24. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 1,031,247 shares of company stock valued at $83,592,882 in the last 90 days. Insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

Hedge funds and other institutional investors have recently made changes to their positions in the stock. D. E. Shaw & Co. Inc. increased its holdings in shares of Kellanova by 766.5% in 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 last quarter. Maverick Capital Ltd. bought a new position in Kellanova in the second quarter valued at $88,065,000. Westchester Capital Management LLC bought a new position in Kellanova in the third quarter valued at $107,795,000. Point72 Asset Management L.P. bought a new stake in Kellanova during the second quarter worth about $63,585,000. Finally, Barclays PLC boosted its holdings in shares of Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after purchasing an additional 1,033,383 shares in the last quarter. 83.87% of the stock is currently 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.