3,901 Shares in Kellanova (NYSE:K) Purchased by Savant Capital LLC

Savant Capital LLC acquired a new position in Kellanova (NYSE:K) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 3,901 shares of the company’s stock, valued at approximately $218,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Stratos Wealth Partners LTD. boosted its stake in Kellanova by 9.1% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 5,444 shares of the company’s stock worth $324,000 after purchasing an additional 452 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Kellanova by 25.6% in the third quarter. Mackenzie Financial Corp now owns 186,750 shares of the company’s stock worth $11,113,000 after buying an additional 38,037 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in shares of Kellanova by 3.9% in the third quarter. IFM Investors Pty Ltd now owns 55,757 shares of the company’s stock worth $3,318,000 after buying an additional 2,116 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Kellanova by 5.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 135,079 shares of the company’s stock valued at $7,877,000 after buying an additional 7,551 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new stake in shares of Kellanova during the third quarter valued at approximately $309,000. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

Shares of K opened at $61.64 on Wednesday. The business has a 50-day simple moving average of $56.42 and a two-hundred day simple moving average of $54.80. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34. Kellanova has a 52 week low of $47.63 and a 52 week high of $71.53. The stock has a market cap of $21.07 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 2.32 and a beta of 0.39.

Kellanova (NYSE:K) last released its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the firm posted $1.10 EPS. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, analysts expect that Kellanova will post 3.58 EPS for the current year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.56 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.63%. Kellanova’s payout ratio is 83.90%.

Analysts Set New Price Targets

Several brokerages have commented on K. Barclays increased their target price on Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday. Wells Fargo & Company lifted their price objective on Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. JPMorgan Chase & Co. upped their target price on shares of Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. DA Davidson started coverage on shares of Kellanova in a research note on Friday, March 1st. They issued a “buy” rating and a $67.00 price target for the company. Finally, Piper Sandler increased their price objective on shares of Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Kellanova presently has an average rating of “Hold” and an average target price of $61.46.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $60.92, for a total value of $4,739,576.00. Following the completion of the transaction, the insider now owns 51,764,438 shares of the company’s stock, valued at $3,153,489,562.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $60.92, for a total value of $4,739,576.00. Following the transaction, the insider now owns 51,764,438 shares of the company’s stock, valued at $3,153,489,562.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Nicolas Amaya sold 9,800 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the transaction, the senior vice president now owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,021,200 shares of company stock worth $57,219,110. 1.80% of the stock is owned by corporate insiders.

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.