SPC Financial Inc. Grows Stock Holdings in Kellanova (NYSE:K)

SPC Financial Inc. increased its holdings in shares of Kellanova (NYSE:K) by 6.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,455 shares of the company’s stock after purchasing an additional 605 shares during the period. SPC Financial Inc.’s holdings in Kellanova were worth $545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stifel Financial Corp grew its stake in shares of Kellanova by 101.6% during the 4th quarter. Stifel Financial Corp now owns 131,173 shares of the company’s stock worth $7,334,000 after purchasing an additional 66,103 shares during the period. KBC Group NV grew its position in Kellanova by 92.4% during the fourth quarter. KBC Group NV now owns 55,818 shares of the company’s stock valued at $3,121,000 after buying an additional 26,809 shares during the period. Jones Financial Companies Lllp increased its holdings in Kellanova by 14.4% in the fourth quarter. Jones Financial Companies Lllp now owns 3,229 shares of the company’s stock valued at $181,000 after buying an additional 407 shares in the last quarter. Peapack Gladstone Financial Corp boosted its stake in shares of Kellanova by 0.7% during the 4th quarter. Peapack Gladstone Financial Corp now owns 75,932 shares of the company’s stock worth $4,245,000 after acquiring an additional 540 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Kellanova by 208.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 30,855 shares of the company’s stock valued at $1,725,000 after purchasing an additional 20,840 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $56.19, for a total transaction of $4,371,582.00. Following the completion of the sale, the insider now directly owns 51,064,238 shares of the company’s stock, valued at approximately $2,869,299,533.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $56.19, for a total value of $4,371,582.00. Following the transaction, the insider now directly owns 51,064,238 shares in the company, valued at approximately $2,869,299,533.22. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the completion of the sale, the insider now owns 50,368,272 shares of the company’s stock, valued at approximately $4,062,201,136.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,080,732 shares of company stock worth $79,115,595. Company insiders own 1.80% of the company’s stock.

Kellanova Stock Down 0.1 %

Shares of NYSE:K opened at $80.65 on Wednesday. Kellanova has a 52-week low of $47.63 and a 52-week high of $81.00. The stock has a market cap of $27.57 billion, a P/E ratio of 30.21, a PEG ratio of 2.59 and a beta of 0.39. The business has a fifty day moving average of $75.61 and a two-hundred day moving average of $64.38. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. Kellanova’s revenue was down 4.7% compared to the same quarter last year. During the same period last year, the business earned $1.25 earnings per share. On average, research analysts expect that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Tuesday, September 3rd. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s payout ratio is presently 85.39%.

Analysts Set New Price Targets

K has been the topic of a number of recent analyst reports. Barclays increased their price target on Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Piper Sandler lifted their price target on shares of Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. upped their price objective on shares of Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and lifted their target price for the company from $62.00 to $70.00 in a research report on Friday, August 2nd. Finally, Wells Fargo & Company upped their price target on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Fourteen 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 a consensus price target of $74.32.

Kellanova 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.