Cwm LLC Grows Stock Position in Kellanova $K

Cwm LLC raised its stake in shares of Kellanova (NYSE:K) by 3.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 14,288 shares of the company’s stock after buying an additional 511 shares during the period. Cwm LLC’s holdings in Kellanova were worth $1,136,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Financial Counselors Inc. purchased a new position in shares of Kellanova during the 1st quarter valued at about $522,000. IFM Investors Pty Ltd raised its stake in shares of Kellanova by 11.6% during the 1st quarter. IFM Investors Pty Ltd now owns 57,241 shares of the company’s stock valued at $4,620,000 after buying an additional 5,957 shares during the last quarter. Syquant Capital Sas raised its stake in shares of Kellanova by 123.6% during the 2nd quarter. Syquant Capital Sas now owns 1,143,568 shares of the company’s stock valued at $90,948,000 after buying an additional 632,168 shares during the last quarter. Retirement Guys Formula LLC purchased a new position in shares of Kellanova during the 1st quarter valued at about $934,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Kellanova by 12.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,596 shares of the company’s stock valued at $2,771,000 after purchasing an additional 3,747 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on K. JPMorgan Chase & Co. began coverage on Kellanova in a research note on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 price target for the company. Weiss Ratings upgraded Kellanova from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered Kellanova from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $83.38.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the transaction, the insider directly owned 45,097,438 shares in the company, valued at $3,587,501,192.90. The trade was a 0.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 458,348 shares of company stock worth $36,597,937. Insiders own 1.80% of the company’s stock.

Kellanova Price Performance

NYSE:K opened at $82.99 on Wednesday. Kellanova has a 12 month low of $76.48 and a 12 month high of $83.22. The stock has a 50 day moving average of $80.36 and a two-hundred day moving average of $80.81. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03. The firm has a market cap of $28.85 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 5.16 and a beta of 0.24.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.05). Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter last year, the firm posted $1.01 earnings per share. Kellanova’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.58 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $2.32 annualized dividend and a dividend yield of 2.8%. This is an increase from Kellanova’s previous quarterly dividend of $0.57. Kellanova’s payout ratio is presently 60.89%.

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.