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

StockNews.com started coverage on shares of Kellanova (NYSE:K) in a report issued on Saturday. The firm set a “hold” rating on the stock.

Separately, Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Fourteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $77.96.

Kellanova Stock Down 0.4 %

K stock opened at $82.25 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The firm has a 50-day moving average of $82.31 and a two-hundred day moving average of $81.40. Kellanova has a 12 month low of $55.01 and a 12 month high of $83.22. The company has a market cap of $28.39 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 4.21 and a beta of 0.34.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $82.44, for a total transaction of $9,446,222.52. Following the sale, the insider now directly owns 47,389,114 shares of the company’s stock, valued at $3,906,758,558.16. This represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 1,260,413 shares of company stock worth $103,473,032. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Institutional investors have recently modified their holdings of the business. Public Sector Pension Investment Board lifted its stake in Kellanova by 26.6% in the third quarter. Public Sector Pension Investment Board now owns 10,947 shares of the company’s stock worth $884,000 after acquiring an additional 2,300 shares during the last quarter. Benjamin Edwards Inc. acquired a new stake in shares of Kellanova in the 3rd quarter valued at $636,000. Janus Henderson Group PLC lifted its position in shares of Kellanova by 91.2% during the 3rd quarter. Janus Henderson Group PLC now owns 196,185 shares of the company’s stock worth $15,833,000 after purchasing an additional 93,586 shares during the last quarter. Investment Management Corp of Ontario grew its stake in shares of Kellanova by 48.6% during the third quarter. Investment Management Corp of Ontario now owns 9,174 shares of the company’s stock worth $740,000 after purchasing an additional 3,000 shares in the last quarter. Finally, State Street Corp increased its holdings in Kellanova by 5.2% in the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after buying an additional 731,273 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

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.