Kellanova (NYSE:K) PT Raised to $62.00

Kellanova (NYSE:K) had its price target increased by stock analysts at TD Cowen from $57.00 to $62.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 2.46% from the stock’s current price.

Several other brokerages also recently commented on K. JPMorgan Chase & Co. boosted their price objective on Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Wells Fargo & Company boosted their price objective on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. Piper Sandler boosted their price objective on Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Stifel Nicolaus boosted their price objective on Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Finally, Barclays boosted their target price on Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $62.67.

Kellanova Price Performance

NYSE K opened at $60.51 on Friday. The company has a market capitalization of $20.68 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 2.32 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62. The business’s fifty day moving average is $56.23 and its 200 day moving average is $54.59. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $71.53.

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

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s 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 of the company’s stock, valued at $2,824,128,173.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 933,600 shares of company stock valued at $51,891,044 over the last ninety days. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Kellanova

Large investors have recently added to or reduced their stakes in the stock. Zhang Financial LLC grew its stake in shares of Kellanova by 0.8% during the first quarter. Zhang Financial LLC now owns 21,318 shares of the company’s stock valued at $1,221,000 after buying an additional 176 shares during the last quarter. Naples Global Advisors LLC grew its stake in shares of Kellanova by 1.7% during the fourth quarter. Naples Global Advisors LLC now owns 11,696 shares of the company’s stock valued at $654,000 after buying an additional 200 shares during the last quarter. Bfsg LLC grew its stake in shares of Kellanova by 64.5% during the first quarter. Bfsg LLC now owns 510 shares of the company’s stock valued at $29,000 after buying an additional 200 shares during the last quarter. Huntington National Bank grew its stake in shares of Kellanova by 1.6% during the third quarter. Huntington National Bank now owns 12,808 shares of the company’s stock valued at $762,000 after buying an additional 204 shares during the last quarter. Finally, Financial Advisors Network Inc. grew its stake in shares of Kellanova by 4.2% during the fourth quarter. Financial Advisors Network Inc. now owns 5,040 shares of the company’s stock valued at $282,000 after buying an additional 204 shares during the last quarter. 83.87% of the stock is 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.