Kellanova (NYSE:K) Given Average Recommendation of "Hold" by Analysts

Key Points

• Kellanova (NYSE:K) has received a consensus rating of "Hold" from five research firms, with four analysts recommending a hold and one analyst recommending a buy.
• The average 1-year target price for Kellanova is $83.38, while recent performance shows shares opened at $83.01 and reported Q2 earnings of $0.94 per share, missing expectations by $0.05.
• Recent insider activity includes the Kellogg W. K. Foundation Trust selling 114,599 shares at an average price of $79.55, leading to a decrease in their position by 0.25%.

Kellanova (NYSE:K - Get Free Report) has been assigned a consensus rating of "Hold" from the five research firms that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $83.3750.

Several brokerages have commented on K. JPMorgan Chase & Co. began coverage on shares of Kellanova in a report on Wednesday, August 20th. They issued a "neutral" rating and a $83.50 price objective for the company. Weiss Ratings raised Kellanova from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut Kellanova from a "hold" rating to a "sell" rating in a research note on Sunday, September 21st.

Kellanova Price Performance

Shares of Kellanova stock opened at $83.01 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03. The company has a market cap of $28.86 billion, a PE ratio of 21.79, a P/E/G ratio of 5.16 and a beta of 0.24. The business has a 50 day moving average of $80.53 and a 200 day moving average of $80.85. Kellanova has a 52 week low of $76.48 and a 52 week high of $83.22.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.99 by ($0.05). The company had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.19 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The firm's revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 earnings per share. As a group, equities research analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the business's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the sale, the insider owned 45,097,438 shares in the company, valued at approximately $3,587,501,192.90. The trade was a 0.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have sold 458,348 shares of company stock worth $36,597,937. Insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Kellanova

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Legacy Trust bought a new position in shares of Kellanova during the third quarter valued at approximately $450,000. ORG Wealth Partners LLC boosted its holdings in Kellanova by 88.3% in the third quarter. ORG Wealth Partners LLC now owns 1,966 shares of the company's stock worth $161,000 after acquiring an additional 922 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Kellanova by 2.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,405 shares of the company's stock worth $3,150,000 after acquiring an additional 746 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Kellanova by 32.4% in the third quarter. Oregon Public Employees Retirement Fund now owns 30,721 shares of the company's stock worth $2,520,000 after acquiring an additional 7,520 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its position in shares of Kellanova by 4.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 8,293 shares of the company's stock worth $680,000 after purchasing an additional 338 shares during the last quarter. Institutional investors 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.

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