Clark & Stuart Inc Invests $3.36 Million in Kellanova (NYSE:K)

Clark & Stuart Inc acquired a new stake in shares of Kellanova (NYSE:K) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 41,545 shares of the company’s stock, valued at approximately $3,364,000. Kellanova accounts for 2.5% of Clark & Stuart Inc’s portfolio, making the stock its 18th biggest holding.

Several other hedge funds also recently bought and sold shares of the business. D. E. Shaw & Co. Inc. boosted its holdings in shares of Kellanova by 766.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock valued at $108,532,000 after purchasing an additional 1,664,461 shares during the period. Maverick Capital Ltd. purchased a new stake in shares of Kellanova in the 2nd quarter worth $88,065,000. Westchester Capital Management LLC bought a new position in shares of Kellanova during the 3rd quarter worth $107,795,000. Point72 Asset Management L.P. purchased a new position in shares of Kellanova during the second quarter valued at $63,585,000. Finally, Barclays PLC raised its holdings in shares of Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after acquiring an additional 1,033,383 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.96, for a total value of $9,276,639.68. Following the transaction, the insider now owns 49,795,357 shares in the company, valued at approximately $4,031,432,102.72. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 916,664 shares of company stock worth $74,179,888 over the last 90 days. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on K shares. StockNews.com began coverage on Kellanova in a report on Tuesday, January 7th. They set a “hold” rating for the company. Argus cut Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research note on Friday, November 1st. Fifteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Kellanova currently has a consensus rating of “Hold” and an average target price of $76.35.

Kellanova Price Performance

NYSE:K opened at $81.54 on Monday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The company has a 50 day moving average price of $80.89 and a 200-day moving average price of $75.83. Kellanova has a 1-year low of $52.46 and a 1-year high of $81.58. The firm has a market cap of $28.11 billion, a price-to-earnings ratio of 28.02, a price-to-earnings-growth ratio of 2.59 and a beta of 0.37.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm earned $1.03 EPS. Equities research analysts forecast that Kellanova will post 3.74 EPS for the current year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.80%. The ex-dividend date was Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

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.