DDD Partners LLC Invests $15.61 Million in Kellanova (NYSE:K)

DDD Partners LLC acquired a new position in shares of Kellanova (NYSE:K) in the fourth quarter, Holdings Channel.com reports. The fund acquired 279,127 shares of the company’s stock, valued at approximately $15,606,000. Kellanova comprises about 2.1% of DDD Partners LLC’s portfolio, making the stock its 21st biggest holding.

A number of other hedge funds also recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its position in Kellanova by 0.3% during the first quarter. International Assets Investment Management LLC now owns 51,858 shares of the company’s stock valued at $170,000 after purchasing an additional 159 shares during the period. Castleview Partners LLC lifted its position in Kellanova by 5.4% during the first quarter. Castleview Partners LLC now owns 3,218 shares of the company’s stock valued at $215,000 after purchasing an additional 164 shares during the period. Moors & Cabot Inc. lifted its position in Kellanova by 1.7% during the first quarter. Moors & Cabot Inc. now owns 10,272 shares of the company’s stock valued at $662,000 after purchasing an additional 169 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in Kellanova by 2.7% during the third quarter. Mercer Global Advisors Inc. ADV now owns 6,744 shares of the company’s stock valued at $470,000 after purchasing an additional 178 shares during the period. Finally, M&T Bank Corp raised its position in Kellanova by 0.5% in the third quarter. M&T Bank Corp now owns 38,834 shares of the company’s stock worth $2,707,000 after acquiring an additional 189 shares during the period. 83.87% of the stock is owned by institutional investors.

Kellanova Price Performance

Shares of K opened at $56.65 on Thursday. The firm has a 50-day simple moving average of $54.78 and a two-hundred day simple moving average of $54.29. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. Kellanova has a 1-year low of $47.63 and a 1-year high of $72.30. The stock has a market cap of $19.36 billion, a PE ratio of 20.60, a P/E/G ratio of 2.09 and a beta of 0.40.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 earnings per share. As a group, analysts forecast that Kellanova will post 3.57 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.56 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.24 annualized dividend and a dividend yield of 3.95%. Kellanova’s dividend payout ratio is presently 81.45%.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $56.49, for a total transaction of $4,394,922.00. Following the completion of the sale, the insider now owns 53,009,238 shares of the company’s stock, valued at approximately $2,994,491,854.62. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have sold 855,800 shares of company stock worth $46,722,790. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

K has been the topic of several recent research reports. StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Piper Sandler increased their price objective on shares of Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Citigroup assumed coverage on shares of Kellanova in a research note on Thursday, February 1st. They set a “neutral” rating and a $57.00 target price for the company. Stifel Nicolaus raised their target price on shares of Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Finally, Wells Fargo & Company lifted their price objective on shares of Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $62.27.

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.