Biltmore Family Office LLC Buys 304 Shares of Kellanova (NYSE:K)

Biltmore Family Office LLC grew its stake in Kellanova (NYSE:K) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,304 shares of the company’s stock after acquiring an additional 304 shares during the period. Biltmore Family Office LLC’s holdings in Kellanova were worth $590,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. D. E. Shaw & Co. Inc. boosted its holdings in 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 acquiring an additional 1,664,461 shares during the last quarter. Maverick Capital Ltd. acquired a new position in Kellanova during the 2nd quarter valued at about $88,065,000. Point72 Asset Management L.P. acquired a new position in Kellanova during the 2nd quarter valued at about $63,585,000. Boston Partners boosted its stake in shares of Kellanova by 117.1% in the 1st quarter. Boston Partners now owns 1,278,079 shares of the company’s stock valued at $73,221,000 after purchasing an additional 689,395 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Kellanova by 130.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,077,018 shares of the company’s stock worth $62,122,000 after buying an additional 608,989 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $80.62, for a total value of $6,272,236.00. Following the completion of the transaction, the insider now owns 50,597,438 shares of the company’s stock, valued at approximately $4,079,165,451.56. This trade represents a 0.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 1,109,047 shares of company stock valued at $89,483,556 in the last ninety days. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Trading Up 0.2 %

Shares of NYSE:K opened at $80.96 on Friday. The firm has a market cap of $27.91 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 2.59 and a beta of 0.39. Kellanova has a 12 month low of $51.02 and a 12 month high of $81.34. The company’s fifty day simple moving average is $80.76 and its 200 day simple moving average is $70.50. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

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

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is currently 78.35%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on K. Barclays raised their price objective on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. StockNews.com began coverage on Kellanova in a research report on Wednesday. They issued a “hold” rating on the stock. Wells Fargo & Company lifted their price objective on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Piper Sandler increased their target price on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Finally, DA Davidson lowered Kellanova from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Fifteen analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $76.35.

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.