Kellanova (NYSE:K) Stock Rating Upgraded by Weiss Ratings

Kellanova (NYSE:K - Get Free Report) was upgraded by equities researchers at Weiss Ratings from a "hold (c+)" rating to a "buy (b-)" rating in a research note issued on Wednesday,Weiss Ratings reports.

A number of other equities analysts also recently issued reports on K. JPMorgan Chase & Co. initiated coverage on Kellanova in a research note on Wednesday, August 20th. They set a "neutral" rating and a $83.50 price target for the company. Wall Street Zen downgraded Kellanova from a "hold" rating to a "sell" rating in a research note on Sunday, September 21st. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $83.38.

Kellanova Stock Performance

K stock opened at $82.87 on Wednesday. The stock has a 50-day moving average price of $79.83 and a 200-day moving average price of $80.79. Kellanova has a 1-year low of $76.48 and a 1-year high of $83.22. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03. The firm has a market cap of $28.81 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 5.16 and a beta of 0.24.

Kellanova (NYSE:K - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.05). The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.19 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The business's quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.01 earnings per share. As a group, equities research analysts expect 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 completion of the transaction, the insider directly owned 45,097,438 shares in the company, valued at $3,587,501,192.90. The trade was a 0.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 687,514 shares of company stock worth $54,869,342. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in Kellanova by 2.8% in the first quarter. GAMMA Investing LLC now owns 6,889 shares of the company's stock worth $568,000 after purchasing an additional 186 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Kellanova during the first quarter worth about $3,793,000. CX Institutional raised its stake in Kellanova by 10.1% in the first quarter. CX Institutional now owns 6,063 shares of the company's stock worth $500,000 after buying an additional 557 shares in the last quarter. Fifth Third Bancorp raised its stake in Kellanova by 1.1% in the first quarter. Fifth Third Bancorp now owns 18,264 shares of the company's stock worth $1,507,000 after buying an additional 204 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Kellanova by 22.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 19,849 shares of the company's stock worth $1,637,000 after buying an additional 3,665 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Kellanova Company Profile

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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