Kellanova (NYSE:K) Receives Average Rating of “Hold” from Brokerages

Kellanova (NYSE:K) has been given an average recommendation of “Hold” by the fifteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Fourteen investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $76.35.

Several research analysts recently commented on K shares. StockNews.com began coverage on shares of Kellanova in a report on Thursday, January 23rd. They issued a “hold” rating for the company. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a report on Friday, November 1st. Finally, Argus cut Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd.

Kellanova Stock Down 0.1 %

K stock opened at $81.76 on Thursday. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $82.06. The stock has a fifty day moving average of $81.09 and a 200-day moving average of $77.93. The company has a market capitalization of $28.18 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 2.50 and a beta of 0.37. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77.

Kellanova (NYSE:K) last issued its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping 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 quarter last year, the business earned $1.03 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. As a group, equities research analysts predict that Kellanova will post 3.75 earnings per share for the current year.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the transaction, the insider now directly owns 49,222,442 shares of the company’s stock, valued at approximately $3,997,354,514.82. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 1,031,247 shares of company stock valued at $83,724,652. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Stonebridge Financial Group LLC bought a new position in shares of Kellanova during the 4th quarter valued at $27,000. CVA Family Office LLC grew its stake in shares of Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after buying an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. increased its holdings in shares of Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after buying an additional 200 shares during the period. MCF Advisors LLC increased its holdings in shares of Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its holdings in Kellanova by 41.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after acquiring an additional 158 shares during the period. 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.