HB Wealth Management LLC Acquires 11,648 Shares of Kellanova $K

HB Wealth Management LLC lifted its stake in Kellanova (NYSE:K) by 139.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,988 shares of the company’s stock after acquiring an additional 11,648 shares during the period. HB Wealth Management LLC’s holdings in Kellanova were worth $1,639,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of K. KLP Kapitalforvaltning AS grew its position in Kellanova by 4.1% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 201,618 shares of the company’s stock worth $16,537,000 after purchasing an additional 7,900 shares during the last quarter. Sather Financial Group Inc acquired a new stake in Kellanova during the third quarter worth about $15,865,000. Samson Rock Capital LLP increased its stake in Kellanova by 2,700.0% during the third quarter. Samson Rock Capital LLP now owns 280,000 shares of the company’s stock valued at $22,966,000 after acquiring an additional 270,000 shares during the period. D.A. Davidson & CO. raised its holdings in Kellanova by 1.6% in the 3rd quarter. D.A. Davidson & CO. now owns 18,762 shares of the company’s stock valued at $1,539,000 after acquiring an additional 290 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in Kellanova by 7.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 243,756 shares of the company’s stock valued at $19,993,000 after acquiring an additional 17,445 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Price Performance

Kellanova stock opened at $83.44 on Monday. The business has a 50 day simple moving average of $83.38 and a 200 day simple moving average of $81.44. Kellanova has a one year low of $76.48 and a one year high of $83.65. The company has a market capitalization of $29.03 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 11.61 and a beta of 0.23. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.68 and a quick ratio of 0.44.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.06. Kellanova had a return on equity of 31.73% and a net margin of 10.08%.The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.25 billion. During the same period in the prior year, the company posted $0.91 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year. On average, sell-side analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a $0.58 dividend. The ex-dividend date was Monday, December 1st. This represents a $2.32 dividend on an annualized basis and a yield of 2.8%. Kellanova’s payout ratio is 63.74%.

Analysts Set New Price Targets

Several analysts have recently weighed in on K shares. Weiss Ratings lowered Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Wall Street Zen upgraded shares of Kellanova from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $83.50.

Kellanova Company Profile

Kellanova (NYSE: K) is a global consumer foods company formed from the reorganization of the historic Kellogg business. The company focuses on the manufacture, marketing and distribution of packaged food products across several categories, with an emphasis on snacks, ready-to-eat cereals, frozen breakfast and other convenience foods. Kellanova’s operations draw on a long consumer-brands heritage and a portfolio designed to reach everyday retail and snack occasions around the world.

Kellanova’s activities include product development, manufacturing, marketing and global supply-chain management for branded food products.