Wallace Capital Management Inc. Purchases Shares of 2,668 Kellanova (NYSE:K)

Wallace Capital Management Inc. acquired a new position in shares of Kellanova (NYSE:K) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,668 shares of the company’s stock, valued at approximately $215,000.

Several other hedge funds have also modified their holdings of K. CVA Family Office LLC lifted its stake in Kellanova by 529.3% in 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 last quarter. MCF Advisors LLC raised its holdings in shares of Kellanova by 48.8% in 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. Blue Trust Inc. lifted its position in shares of Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares during the last quarter. Family Firm Inc. acquired a new position in shares of Kellanova during the second quarter worth $29,000. Finally, Newbridge Financial Services Group Inc. increased its holdings in Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after buying an additional 200 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $81.21, for a total value of $9,305,285.43. Following the completion of the transaction, the insider now owns 49,222,442 shares of the company’s stock, valued at $3,997,354,514.82. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 1,145,830 shares of company stock valued at $92,516,606 in the last ninety days. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on K shares. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research report on Friday, November 1st. StockNews.com started coverage on Kellanova in a report on Friday. They issued a “hold” rating for the company. Wells Fargo & Company raised their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Stifel Nicolaus increased their target price on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $76.35.

Kellanova Price Performance

Shares of K opened at $80.78 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $81.34. The firm has a 50-day simple moving average of $80.82 and a 200-day simple moving average of $71.84. The company has a market capitalization of $27.84 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 2.59 and a beta of 0.38.

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

Kellanova Dividend Announcement

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