Tevis Investment Management Purchases Shares of 2,860 Kellanova (NYSE:K)

Tevis Investment Management bought a new position in Kellanova (NYSE:K) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,860 shares of the company’s stock, valued at approximately $231,000.

Other hedge funds have also recently modified their holdings of the company. S.A. Mason LLC raised its holdings in Kellanova by 7.6% in the 3rd quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock worth $160,000 after purchasing an additional 140 shares in the last quarter. Cove Private Wealth LLC purchased a new stake in shares of Kellanova in the third quarter worth $220,000. Fidelis Capital Partners LLC bought a new stake in Kellanova during the 3rd quarter valued at about $219,000. Tyche Wealth Partners LLC bought a new stake in shares of Kellanova during the third quarter valued at approximately $297,000. Finally, abrdn plc increased its holdings in shares of Kellanova by 1.6% in the 3rd quarter. abrdn plc now owns 1,212,510 shares of the company’s stock worth $97,831,000 after purchasing an additional 18,681 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the completion of the sale, the insider now directly owns 50,753,038 shares of the company’s stock, valued at approximately $4,062,780,691.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction 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 $4,051,249,113.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total value of $6,227,890.00. Following the transaction, the insider now directly owns 50,753,038 shares in the company, valued at $4,062,780,691.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,227,864 shares of company stock worth $98,438,243. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on K shares. DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and increased their price objective for the company from $80.00 to $83.50 in a research report on Monday, August 26th. Barclays upped their price target on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Piper Sandler increased their target price on Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. The Goldman Sachs Group began coverage on shares of Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price target on the stock. Finally, Bank of America raised Kellanova from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $62.00 to $70.00 in a report on Friday, August 2nd. Fifteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $74.32.

Kellanova Trading Up 0.3 %

Shares of NYSE K opened at $80.83 on Thursday. The business’s 50 day moving average price is $80.63 and its 200-day moving average price is $68.00. The company has a market cap of $27.86 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 2.60 and a beta of 0.39. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. Kellanova has a fifty-two week low of $50.14 and a fifty-two week high of $81.26.

Kellanova (NYSE:K) last issued its earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 EPS. On average, sell-side analysts expect that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Dividend Announcement

The company also recently declared 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. The ex-dividend date is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.82%. Kellanova’s dividend payout ratio is currently 86.36%.

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.