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 report issued on Friday, Marketbeat.com reports. They currently have a $83.00 price target on the stock. BNP Paribas’ price target indicates a potential upside of 2.96% from the stock’s current price.

K has been the topic of several other research reports. Evercore ISI raised Kellanova to a “hold” rating in a research note on Friday, August 2nd. The Goldman Sachs Group started coverage on shares of Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price objective for the company. DA Davidson cut shares of Kellanova from a “buy” rating to a “neutral” rating and raised their target price for the company from $80.00 to $83.50 in a research note on Monday, August 26th. Bank of America raised shares of Kellanova from a “neutral” rating to a “buy” rating and upped their price target for the stock from $62.00 to $70.00 in a research note on Friday, August 2nd. Finally, Royal Bank of Canada lowered shares of Kellanova from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $76.00 to $83.50 in a research note on Thursday, August 15th. Sixteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Kellanova has a consensus rating of “Hold” and a consensus price target of $74.96.

Kellanova Stock Down 0.0 %

NYSE:K opened at $80.61 on Friday. The firm has a market capitalization of $27.78 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 2.58 and a beta of 0.39. The stock has a 50 day moving average of $80.63 and a 200-day moving average of $68.27. The company has a current ratio of 0.77, a quick ratio of 0.48 and a debt-to-equity ratio of 1.34. Kellanova has a 52 week low of $50.81 and a 52 week high of $81.26.

Kellanova (NYSE:K) last posted its earnings results 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 analyst estimates of $3.16 billion. During the same period in the previous year, the business posted $1.03 EPS. Kellanova’s revenue was down .7% on a year-over-year basis. Analysts predict that Kellanova will post 3.71 EPS for the current year.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the completion of the sale, the insider now directly owns 49,680,774 shares of the company’s stock, valued at approximately $4,012,219,308.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on 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 transaction, the insider now owns 50,753,038 shares in the company, valued at approximately $4,062,780,691.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,227,864 shares of company stock worth $98,438,243 in the last quarter. 1.80% of the stock is owned by company insiders.

Institutional Trading of Kellanova

Hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in shares of Kellanova by 11.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock worth $150,909,000 after acquiring an additional 277,171 shares in the last quarter. Yacktman Asset Management LP raised its stake in shares of Kellanova by 0.5% during the 2nd quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock worth $123,546,000 after purchasing an additional 10,510 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake 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 valued at $108,532,000 after buying an additional 1,664,461 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in Kellanova in the second quarter valued at approximately $88,065,000. Finally, TD Asset Management Inc grew its position in Kellanova by 3.0% in the second quarter. TD Asset Management Inc now owns 1,391,196 shares of the company’s stock worth $80,244,000 after acquiring an additional 40,406 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

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.