Kellanova (NYSE:K) Now covered by analysts at StockNews.com

VaselineSeptember 1, 2024

0 3 minutes read

Equities research analysts at StockNews.com have begun coverage on the stock Kellanova (NYSE:K – Get a Free Report) in a report issued on Sunday. The brokerage set a “hold” rating on the stock.

K has been the subject of several other research reports. Piper Sandler upped their target price on Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Barclays boosted their target price on Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Royal Bank of Canada downgraded Kellanova from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $76.00 to $83.50 in a report on Thursday, August 15th . Stifel Nicolaus upped their target price on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. upped their target price on Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Fourteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $74.32, based on data from MarketBeat.

Read the latest stock analysis on Kellanova

Kellanova trading up 0.1%

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NYSE K opened at $80.61 on Friday. The company has a market cap of $27.56 billion, a price-to-earnings ratio of 30.19, a P/E/G ratio of 2.22 and a beta of 0.34. Kellanova has a 52 week low of $47.63 and a 52 week high of $80.97. The company has a 50-day moving average price of $65.84 and a 200-day moving average price of $60.52. The company has a quick ratio of 0.41, a current ratio of 0.73, and a debt-to-equity ratio of 1.46.

Kellanova (NYSE:K – Get Your Free Report ) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The company’s quarterly revenue was down 4.7% year-over-year. In the same quarter last year, the company posted earnings of $1.25 per share. As a group, equities analysts expect that Kellanova will post 3.68 earnings per share for the current fiscal year.

Insiders place their bets

In other news, major shareholder Kellogg WK Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $57.71, for a total value of $4,489,838.00. Following the completion of the transaction, the insider now owns 51,297,638 shares in the company, valued at $2,960,386,688.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Over the last 90 days, insiders have sold 855,800 shares of company stock worth $55,663,566. Company insiders own 1.80% of the company’s shares.

Hedge funds affect Kellanova

Several large investors have recently modified their holdings of K. Blue Trust Inc. raised its stake in Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after acquiring an additional 170 shares in the last quarter. Bfsg LLC raised its stake in Kellanova by 64.5% in the first quarter. Bfsg LLC now owns 510 shares of the company’s stock valued at $29,000 after acquiring an additional 200 shares in the last quarter. Family Firm Inc. purchased a new position in Kellanova in the second quarter valued at about $29,000. BNP Paribas purchased a new position in Kellanova in the first quarter valued at about $30,000. Finally, Motco raised its stake in Kellanova by 757.6% during the fourth quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s shares.

Kellanova Company Profile

(Get a free report)

Kellanova, together with its subsidiaries, manufactures and markets snacks and food products in North America, Europe, Latin America, Asia Pacific, the Middle East, Australia and Africa. Its main products include crackers, chips, salty snacks, fried pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, plant foods and noodles.