Duality Advisers LP Buys New Position in Kellanova (NYSE:K)

Duality Advisers LP bought a new stake in Kellanova (NYSE:K) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 19,750 shares of the company’s stock, valued at approximately $1,131,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Kellanova in the 4th quarter valued at about $150,184,000. Vanguard Group Inc. grew its holdings in Kellanova by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock valued at $1,797,525,000 after buying an additional 1,130,582 shares during the period. Anchor Capital Advisors LLC purchased a new stake in Kellanova in the 4th quarter valued at about $38,939,000. Beutel Goodman & Co Ltd. grew its holdings in Kellanova by 15.5% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock valued at $273,504,000 after buying an additional 655,686 shares during the period. Finally, Clearbridge Investments LLC purchased a new stake in Kellanova in the 4th quarter valued at about $35,372,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Activity at Kellanova

In related news, SVP Nicolas Amaya sold 9,800 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the sale, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of the stock in a transaction on 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 directly owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $57.76, for a total value of $4,493,728.00. Following the completion of the sale, the insider now directly owns 51,920,038 shares in the company, valued at $2,998,901,394.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 865,600 shares of company stock valued at $50,838,732. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. TD Cowen boosted their target price on Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. DA Davidson boosted their target price on Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Barclays boosted their target price on Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a report on Monday, May 6th. Bank of America decreased their target price on Kellanova from $64.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. boosted their target price on Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $61.85.

Kellanova Stock Down 0.5 %

Shares of K traded down $0.30 during trading on Friday, reaching $56.54. The company’s stock had a trading volume of 1,615,422 shares, compared to its average volume of 2,849,462. The company has a fifty day moving average of $59.40 and a two-hundred day moving average of $56.98. Kellanova has a twelve month low of $47.63 and a twelve month high of $68.23. The company has a market cap of $19.33 billion, a price-to-earnings ratio of 21.19, a P/E/G ratio of 2.02 and a beta of 0.34. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last announced its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (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 for the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the company posted $1.10 EPS. Kellanova’s quarterly revenue was down 4.2% on a year-over-year basis. On average, sell-side analysts predict that Kellanova will post 3.62 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Monday, June 3rd were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.96%. The ex-dividend date was Monday, June 3rd. Kellanova’s dividend payout ratio is currently 83.90%.

About Kellanova

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.