K Stock Summary and Trading Ideas (Kellanova | NYSE:K)

Following its split from the North American cereal business, Kellanova (previously the global snacking arm of Kellogg) is a leading global manufacturer and marketer of salty snacks, snack bars, frozen breakfast fare, meat alternatives, and other packaged foods. Its offerings are manufactured in around 20 countries and marketed in more than 180 countries. Its product mix includes well-known brands such as Pringles, Cheez-It, Rice Krispies Treats, Pop-Tarts, Eggo, Nutri-Grain, and Morningstar Farms. Sales beyond its home turf account for about half of Kellanova's consolidated sales base.

Kellanova trades on the NYSE stock market under the symbol K.

As of April 18, 2024, K stock price climbed to $56.54 with 1,376,038 million shares trading.

K has a beta of 0.34, meaning it tends to be less sensitive to market movements. K has a correlation of 0.05 to the broad based SPY ETF.

K has a market cap of $19.37 billion. This is considered a Large Cap stock.

Last quarter Kellanova reported $3 billion in Revenue and $.78 earnings per share. This beat revenue expectation by $94 million and exceeded earnings estimates by $.04.

In the last 3 years, K stock traded as high as $77.17 and as low as $47.63.

The top ETF exchange traded funds that K belongs to (by Net Assets): VTI, VOO, VO, SPY, USMV.

K has underperformed the market in the last year with a return of -2.6%, while the SPY ETF gained +22.3%. In the last 3 month period, K fell short of the market, returning +4.7%, while SPY returned +6.1%. However, in the most recent 2 weeks K has outperformed the stock market by returning -0.1%, while SPY returned -3.8%.

K support price is $55.45 and resistance is $56.69 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that K stock will trade within this expected range on the day.