Kellanova (NYSE:K) Downgraded by StockNews.com to “Hold”

Kellanova (NYSE:K) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Separately, Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Thirteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $79.41.

Kellanova Trading Down 0.2 %

NYSE K opened at $82.67 on Friday. The firm has a market capitalization of $28.54 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. The business’s 50-day moving average price is $82.40 and its two-hundred day moving average price is $81.65. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22.

Kellanova (NYSE:K) last announced its earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the company earned $1.01 earnings per share. The business’s revenue was down 3.7% on a year-over-year basis. On average, analysts expect that Kellanova will post 3.93 EPS for the current year.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $82.23, for a total transaction of $9,422,160.09. Following the completion of the sale, the insider now directly owns 48,191,195 shares of the company’s stock, valued at $3,962,761,964.85. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 1,260,413 shares of company stock valued at $103,801,886 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Several large investors have recently added to or reduced their stakes in K. Grove Bank & Trust purchased a new stake in shares of Kellanova in the first quarter valued at about $25,000. Stonebridge Financial Group LLC purchased a new stake in Kellanova in the 4th quarter valued at about $27,000. MorganRosel Wealth Management LLC bought a new position in shares of Kellanova during the 1st quarter worth approximately $27,000. BankPlus Trust Department purchased a new position in shares of Kellanova in the 4th quarter worth approximately $28,000. Finally, Rialto Wealth Management LLC bought a new position in shares of Kellanova in the fourth quarter valued at approximately $32,000. 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.