Wrapmanager Inc. Makes New Investment in Kellanova (NYSE:K)

Wrapmanager Inc. acquired a new position in Kellanova (NYSE:K) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,484 shares of the company’s stock, valued at approximately $200,000.

Several other institutional investors have also recently made changes to their positions in K. Blue Trust Inc. lifted its holdings in shares of Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after acquiring an additional 170 shares during the last quarter. Family Firm Inc. purchased a new stake in Kellanova in the 2nd quarter valued at about $29,000. CVA Family Office LLC increased its position in shares of Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after acquiring an additional 307 shares during the period. Newbridge Financial Services Group Inc. grew its stake in Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. Finally, MCF Advisors LLC raised its position in Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after purchasing an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the sale, the insider now owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 994,464 shares of company stock worth $80,203,479. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

K has been the subject of several recent research reports. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a report on Friday, August 2nd. StockNews.com began coverage on Kellanova in a research report on Wednesday. They set a “hold” rating on the stock. Stifel Nicolaus raised their price target on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, BNP Paribas downgraded 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 assigned 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 Trading Down 0.1 %

Kellanova stock opened at $80.50 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The firm has a market cap of $27.75 billion, a PE ratio of 27.66, a P/E/G ratio of 2.59 and a beta of 0.39. The stock’s 50 day simple moving average is $80.73 and its two-hundred day simple moving average is $70.29. Kellanova has a 12 month low of $51.02 and a 12 month high of $81.34.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 EPS. Analysts anticipate that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a $0.57 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. Kellanova’s dividend payout ratio (DPR) is presently 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.