In yesterday’s Wall Street session, Kellanova Co (NYSE:K) shares traded at $56.11, up 1.76% from the previous session.
K stock price is now 2.49% away from the 50-day moving average and -0.16% away from the 200-day moving average. The market capitalization of the company currently stands at $19.18B.
With the price target of $67, DA Davidson recently initiated with Buy rating for Kellanova Co (NYSE: K). On February 01, 2024, Citigroup recently initiated its ‘Neutral’ rating on the stock quoting a target price of $57, while ‘Wells Fargo’ rates the stock as ‘Equal Weight’
In other news, KELLOGG W K FOUNDATION TRUST, 10% Owner sold 77,800 shares of the company’s stock on Mar 21 ’24. The stock was sold for $4,326,489 at an average price of $55.61. Upon completion of the transaction, the 10% Owner now directly owns 52,231,238 shares in the company, valued at $2.93 billion. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 14 ’24, 10% Owner KELLOGG W K FOUNDATION TRUST sold 77,800 shares of the business’s stock. A total of $4,115,457 was realized by selling the stock at an average price of $52.90. This leaves the insider owning 52,309,038 shares of the company worth $2.94 billion. A total of 16.27% of the company’s stock is owned by insiders.
During the past 12 months, Kellanova Co has had a low of $47.62 and a high of $67.84. As of last week, the company has a debt-to-equity ratio of 2.06, a current ratio of 0.66, and a quick ratio of 0.41. According to the stock market information, the enterprise value for the company is $25.43B, which is based on a 20.35 price-to-earnings ratio, a 2.58 price-to-earnings-growth ratio, and a beta of 0.40. The fifty day moving average price for K is $54.74 and a two-hundred day moving average price translates $56.18 for the stock.
The latest earnings results from Kellanova Co (NYSE: K) was released for Dec, 2023. According to the Packaged Foods Company, earnings per share came in at $0.78, beating analysts’ expectations of $0.74 by 0.04. This compares to -$0.98 EPS in the same period last year. The net profit margin was 6.25% and return on equity was 27.52% for K. The company reported revenue of $1.09 billion for the quarter, compared to $1.17 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -7.0 percent. For the current quarter, analysts expect K to generate $3.18B in revenue.
Kellanova Co(K) 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. The company offers its products under the Kellogg’s, Cheez-It, Pringles, Austin, Parati, RXBAR, Eggo, Morningstar Farms, Bisco, Club, Luxe, Minueto, Special K, Toasteds, Town House, Zesta, Zoo Cartoon, Choco Krispis, Crunchy Nut, Kashi, Nutri-Grain, Squares, Zucaritas, Rice Krispies Treats, Sucrilhos, Pop-Tarts, K-Time, Sunibrite, Split Stix, LCMs, Coco Pops, Krave, Frosties, Rice Krispies Squares, Incogmeato, Veggitizers, Gardenburger, Trink, Carr’s, Kellogg’s Extra, Müsli, Fruit n Fibre, Kellogg’s Crunchy Nut, Country Store, Smacks, Honey Bsss, Zimmy’s, Toppas, Tresor, Froot Ring, Chocos, Chex, Guardian, Just Right, Sultana Bran, Rice Bubbles, Sustain, and Choco Krispies brand names. It sells its products to retailers through direct sales forces, as well as brokers and distributors. The company was formerly known as Kellogg Company and changed its name to Kellanova in October 2023. Kellanova was founded in 1906 and is headquartered in Chicago, Illinois.
