Kellanova (NYSE:K) Receives $76.35 Consensus Target Price from Brokerages

Shares of Kellanova (NYSE:K) have been given a consensus recommendation of “Hold” by the fifteen brokerages that are covering the company, Marketbeat reports. Fourteen analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $76.35.

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

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $81.91, for a total value of $9,385,493.53. Following the transaction, the insider now owns 48,305,778 shares in the company, valued at $3,956,726,275.98. The trade was a 0.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 1,031,247 shares of company stock worth $83,724,652 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Kellanova

A number of hedge funds have recently bought and sold shares of K. Swedbank AB increased its position in shares of Kellanova by 20.5% during the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock valued at $22,076,000 after purchasing an additional 46,450 shares during the last quarter. Toronto Dominion Bank grew its position in Kellanova by 5.1% during the third quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock valued at $14,435,000 after buying an additional 8,686 shares during the period. Principal Financial Group Inc. increased its holdings in Kellanova by 6.9% during the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after buying an additional 24,067 shares during the last quarter. Wedmont Private Capital bought a new stake in Kellanova in the fourth quarter worth about $384,000. Finally, Barclays PLC boosted its stake in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

Kellanova Price Performance

Shares of K opened at $81.76 on Thursday. The firm has a market cap of $28.18 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 2.50 and a beta of 0.37. Kellanova has a 52-week low of $52.46 and a 52-week high of $82.06. The business’s 50 day moving average price is $81.09 and its two-hundred day moving average price is $77.93. 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 released its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. Kellanova’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 EPS. On average, equities analysts anticipate that Kellanova will post 3.75 EPS for the current year.

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.