Kellanova (NYSE:K) PT Raised to $72.00

Kellanova (NYSE:K) had its price objective hoisted by analysts at DA Davidson from $67.00 to $72.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price target suggests a potential upside of 16.88% from the stock’s current price.

A number of other research firms have also recently weighed in on K. TD Cowen raised their price target on Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Wells Fargo & Company upped their target price on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Citigroup initiated coverage on shares of Kellanova in a research note on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price objective for the company. Piper Sandler lifted their target price on Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Finally, Stifel Nicolaus raised their price target on Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Kellanova presently has an average rating of “Hold” and an average price target of $61.85.

Kellanova Trading Down 1.2 %

NYSE:K traded down $0.73 on Thursday, hitting $61.60. The stock had a trading volume of 2,251,328 shares, compared to its average volume of 3,242,674. The stock has a market cap of $21.06 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 2.32 and a beta of 0.39. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34. The company has a fifty day moving average price of $56.42 and a two-hundred day moving average price of $54.80. Kellanova has a 1-year low of $47.63 and a 1-year high of $71.19.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the business earned $1.10 earnings per share. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. Equities research analysts expect that Kellanova will post 3.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $53.67, for a total transaction of $4,175,526.00. Following the transaction, the insider now directly owns 52,620,238 shares in the company, valued at approximately $2,824,128,173.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $53.67, for a total transaction of $4,175,526.00. Following the sale, the insider now directly owns 52,620,238 shares in the company, valued at approximately $2,824,128,173.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nicolas Amaya sold 9,800 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $60.05, for a total value of $588,490.00. Following the completion of the sale, the senior vice president now directly owns 26,191 shares in the company, valued at $1,572,769.55. The disclosure for this sale can be found here. Insiders have sold 1,021,200 shares of company stock worth $57,219,110 in the last three months. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Kellanova

Institutional investors have recently added to or reduced their stakes in the company. Oakworth Capital Inc. raised its position in shares of Kellanova by 491.3% during the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after purchasing an additional 393 shares during the period. Bfsg LLC lifted its position in shares of Kellanova by 64.5% in the 1st quarter. Bfsg LLC now owns 510 shares of the company’s stock valued at $29,000 after acquiring an additional 200 shares in the last quarter. Baker Avenue Asset Management LP grew its position in Kellanova by 205.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after purchasing an additional 341 shares in the last quarter. BNP Paribas acquired a new stake in Kellanova during the 1st quarter valued at $30,000. Finally, Motco lifted its holdings in shares of Kellanova by 757.6% in the fourth quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after purchasing an additional 500 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

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.