Kellanova (NYSE:K) Upgraded at Royal Bank of Canada

Kellanova (NYSE:K) was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report released on Tuesday,Briefing.com Automated Import reports. The firm currently has a $83.50 price objective on the stock. Royal Bank of Canada’s target price points to a potential upside of 1.51% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. StockNews.com began coverage on shares of Kellanova in a research note on Sunday. They set a “hold” rating on the stock. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research note on Friday, November 1st. Thirteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $77.96.

Kellanova Trading Up 0.1 %

Shares of K stock opened at $82.26 on Tuesday. Kellanova has a 12-month low of $52.46 and a 12-month high of $82.41. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.29. The firm’s 50 day moving average is $81.40 and its 200 day moving average is $80.35. The stock has a market capitalization of $28.35 billion, a P/E ratio of 21.25, a P/E/G ratio of 2.53 and a beta of 0.37.

Kellanova (NYSE:K) last issued its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Research analysts expect that Kellanova will post 3.91 earnings per share for the current year.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Friday, February 14th. The shares were sold at an average price of $82.25, for a total value of $9,424,451.75. Following the sale, the insider now directly owns 48,076,612 shares in the company, valued at approximately $3,954,301,337. The trade was a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders have sold 1,260,413 shares of company stock worth $102,571,264. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Kellanova

Institutional investors and hedge funds have recently bought and sold shares of the stock. Stonebridge Financial Group LLC bought a new stake in Kellanova in the 4th quarter valued at $27,000. BankPlus Trust Department bought a new stake in shares of Kellanova in the 4th quarter worth about $28,000. Rialto Wealth Management LLC bought a new stake in shares of Kellanova in the 4th quarter worth about $32,000. Flagship Wealth Advisors LLC bought a new stake in shares of Kellanova in the 4th quarter worth about $32,000. Finally, MCF Advisors LLC increased its holdings in shares of Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

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.