Kellanova (NYSE:K) Hits New 52-Week High – Here’s Why

Kellanova (NYSE:K)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $82.00 and last traded at $81.70, with a volume of 161370 shares changing hands. The stock had previously closed at $81.87.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. BNP Paribas cut 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. StockNews.com assumed coverage on shares of Kellanova in a research report on Thursday, January 23rd. They set a “hold” rating on the stock. Finally, Argus lowered Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Fifteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $76.35.

Kellanova Stock Performance

The firm has a fifty day moving average of $81.06 and a 200-day moving average of $77.75. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $28.20 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 2.50 and a beta of 0.37.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter last year, the business posted $1.03 earnings per share. The business’s revenue for the quarter was down .7% on a year-over-year basis. As a group, sell-side analysts anticipate that Kellanova will post 3.75 EPS for the current year.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the sale, the insider now owns 49,222,442 shares of the company’s stock, valued at $3,997,354,514.82. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 1,031,247 shares of company stock valued at $83,724,652 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CVA Family Office LLC boosted its holdings in shares of Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after purchasing an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its position in Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after buying an additional 200 shares during the period. MCF Advisors LLC boosted its stake in 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. Capital Advisors Ltd. LLC grew its holdings in Kellanova by 41.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after buying an additional 158 shares during the period. Finally, Mather Group LLC. increased its stake in shares of Kellanova by 71.3% during the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock valued at $50,000 after acquiring an additional 256 shares during the last quarter. 83.87% of the stock is currently owned by hedge funds and other 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.