Townsquare Capital LLC Has $459,000 Stock Position in Kellanova (NYSE:K)

Townsquare Capital LLC increased its position in shares of Kellanova (NYSE:K) by 10.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,673 shares of the company’s stock after purchasing an additional 543 shares during the period. Townsquare Capital LLC’s holdings in Kellanova were worth $459,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of K. Stonebridge Financial Group LLC bought a new stake in shares of Kellanova in the 4th quarter valued at approximately $27,000. BankPlus Trust Department acquired a new stake in Kellanova in the 4th quarter valued at $28,000. Rialto Wealth Management LLC bought a new stake in Kellanova in the fourth quarter valued at $32,000. Flagship Wealth Advisors LLC acquired a new position in Kellanova during the fourth quarter worth $32,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after purchasing an additional 173 shares during the last quarter. 83.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on K. StockNews.com began coverage on Kellanova in a research report on Monday. They issued a “buy” rating for the company. Royal Bank of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. Thirteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $77.96.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $81.91, for a total transaction of $9,385,493.53. Following the sale, the insider now owns 48,305,778 shares in the company, valued at $3,956,726,275.98. This represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 1,260,413 shares of company stock worth $103,672,407 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

Kellanova Stock Up 0.1 %

Shares of Kellanova stock opened at $82.37 on Monday. The firm has a market cap of $28.43 billion, a PE ratio of 21.28, a P/E/G ratio of 4.21 and a beta of 0.34. The business’s 50 day simple moving average is $82.35 and its 200 day simple moving average is $81.52. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a 52-week low of $55.96 and a 52-week high of $83.22.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. On average, analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.57 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova’s dividend payout ratio is 58.91%.

Kellanova 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.