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

by · The Markets Daily

StockNews.com began coverage on shares of Kellanova (NYSE:K – Free Report) in a research report report published on Friday. The firm issued a hold rating on the stock.

Separately, BNP Paribas lowered shares of 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. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Kellanova has an average rating of “Hold” and an average target price of $76.35.

Read Our Latest Report on K

Kellanova Trading Down 0.2 %

Kellanova stock opened at $81.74 on Friday. Kellanova has a 52 week low of $52.46 and a 52 week high of $82.06. The stock has a 50-day moving average price of $81.13 and a 200 day moving average price of $78.13. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $28.18 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 2.51 and a beta of 0.37.

Kellanova (NYSE:K – Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.03 EPS. Sell-side analysts anticipate that Kellanova will post 3.75 EPS for the current year.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $81.91, for a total transaction of $9,385,493.53. Following the sale, the insider now owns 48,305,778 shares of the company’s stock, valued at $3,956,726,275.98. The trade was a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 1,031,247 shares of company stock worth $83,724,652 in the last 90 days. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

A number of institutional investors have recently added to or reduced their stakes in K. Kentucky Retirement Systems Insurance Trust Fund increased its position in Kellanova by 14.7% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,107 shares of the company’s stock worth $737,000 after purchasing an additional 1,164 shares during the last quarter. Atria Wealth Solutions Inc. grew its stake in shares of Kellanova by 16.2% in the 4th quarter. Atria Wealth Solutions Inc. now owns 7,985 shares of the company’s stock valued at $647,000 after buying an additional 1,114 shares during the period. Kornitzer Capital Management Inc. KS increased its holdings in shares of Kellanova by 1.7% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 244,300 shares of the company’s stock worth $19,781,000 after buying an additional 3,985 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of Kellanova by 18.3% during the 4th quarter. Venturi Wealth Management LLC now owns 1,494 shares of the company’s stock valued at $121,000 after buying an additional 231 shares during the period. Finally, D.A. Davidson & CO. lifted its holdings in Kellanova by 11.7% in the fourth quarter. D.A. Davidson & CO. now owns 22,455 shares of the company’s stock valued at $1,818,000 after acquiring an additional 2,347 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Company Profile

(Get Free Report)

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.

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