Norden Group LLC Buys Shares of 6,888 Kellanova (NYSE:K)

Norden Group LLC bought a new stake in Kellanova (NYSE:KFree Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,888 shares of the company’s stock, valued at approximately $395,000.

Other large investors also recently bought and sold shares of the company. Motco lifted its position in shares of Kellanova by 757.6% during the fourth quarter. Motco now owns 566 shares of the company’s stock worth $32,000 after purchasing an additional 500 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after purchasing an additional 206 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Kellanova by 139.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 736 shares of the company’s stock worth $41,000 after purchasing an additional 428 shares in the last quarter. Northwest Financial Advisors acquired a new stake in shares of Kellanova during the fourth quarter worth about $42,000. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of Kellanova by 339.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock worth $67,000 after purchasing an additional 928 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Price Performance

Kellanova stock opened at $56.19 on Tuesday. Kellanova has a one year low of $47.63 and a one year high of $68.23. 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 has a fifty day moving average of $59.52 and a two-hundred day moving average of $56.97. The company has a market cap of $19.21 billion, a P/E ratio of 21.05, a price-to-earnings-growth ratio of 2.00 and a beta of 0.34.

Kellanova (NYSE:KGet Free Report) last released its earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the company earned $1.10 earnings per share. Kellanova’s quarterly revenue was down 4.2% compared to the same quarter last year. As a group, analysts predict that Kellanova will post 3.62 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend was Monday, June 3rd. Kellanova’s dividend payout ratio is currently 83.90%.

Analysts Set New Price Targets

K has been the topic of a number of recent research reports. DA Davidson upped their target price on shares of Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. TD Cowen upped their target price on shares of Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Barclays upped their target price on shares of Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Monday, May 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Eleven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.83.

View Our Latest Research Report on Kellanova

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $55.35, for a total value of $4,306,230.00. Following the completion of the transaction, the insider now owns 51,997,838 shares in the company, valued at $2,878,080,333.30. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $55.35, for a total transaction of $4,306,230.00. Following the completion of the sale, the insider now owns 51,997,838 shares in the company, valued at approximately $2,878,080,333.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $60.05, for a total value of $588,490.00. Following the sale, 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. Insiders sold a total of 865,600 shares of company stock worth $50,838,732 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

About Kellanova

(Free Report)

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.

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Institutional Ownership by Quarter for Kellanova (NYSE:K)

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