Kellanova (NYSE:K) Shares Acquired by SPC Financial Inc.

SPC Financial Inc. lifted its position in shares of Kellanova (NYSE:K) by 7.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 8,850 shares of the company’s stock after purchasing an additional 604 shares during the period. SPC Financial Inc.’s holdings in Kellanova were worth $507,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in K. Bfsg LLC raised its stake in Kellanova by 64.5% during the first quarter. Bfsg LLC now owns 510 shares of the company’s stock worth $29,000 after acquiring an additional 200 shares during the period. BNP Paribas acquired a new position in shares of Kellanova during the first quarter valued at approximately $30,000. Motco increased its stake in shares of Kellanova by 757.6% during the fourth quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after acquiring an additional 500 shares during the period. Blue Trust Inc. increased its stake in shares of Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after acquiring an additional 206 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Kellanova by 139.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 736 shares of the company’s stock valued at $41,000 after acquiring an additional 428 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $56.14, for a total transaction of $4,367,692.00. Following the sale, the insider now directly owns 51,142,038 shares of the company’s stock, valued at $2,871,114,013.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Nicolas Amaya sold 9,800 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the transaction, the senior vice president now directly owns 26,191 shares in the company, valued at $1,572,769.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $56.14, for a total transaction of $4,367,692.00. Following the transaction, the insider now owns 51,142,038 shares in the company, valued at $2,871,114,013.32. The disclosure for this sale can be found here. Insiders have sold a total of 865,600 shares of company stock valued at $50,838,732 over the last quarter. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays raised their target price on shares of 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 price objective on shares of Kellanova from $64.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. TD Cowen lifted their target price on shares of Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Finally, DA Davidson lifted their target price on shares of Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $61.85.

Kellanova Stock Up 0.6 %

Shares of K opened at $57.17 on Friday. The company has a 50-day simple moving average of $59.40 and a 200-day simple moving average of $56.98. The firm has a market capitalization of $19.55 billion, a P/E ratio of 21.29, a P/E/G ratio of 2.02 and a beta of 0.34. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62. Kellanova has a 52 week low of $47.63 and a 52 week high of $68.23.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.10 earnings per share. On average, equities research analysts expect that Kellanova will post 3.62 earnings per share for the current year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Monday, June 3rd were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.92%. Kellanova’s 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.