Kellanova (NYSE:K) Shares Acquired by KLCM Advisors Inc.

KLCM Advisors Inc. increased its position in shares of Kellanova (NYSE:K) by 847.0% during the fourth quarter, Holdings Channel reports. The fund owned 43,448 shares of the company’s stock after acquiring an additional 38,860 shares during the quarter. KLCM Advisors Inc.’s holdings in Kellanova were worth $2,429,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of K. Cantor Fitzgerald Investment Advisor L.P boosted its position in Kellanova by 95.3% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 424,951 shares of the company’s stock worth $27,405,000 after acquiring an additional 207,392 shares during the last quarter. HighTower Advisors LLC boosted its position in Kellanova by 16.7% during the first quarter. HighTower Advisors LLC now owns 18,121 shares of the company’s stock worth $1,167,000 after acquiring an additional 2,590 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Kellanova by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,232 shares of the company’s stock worth $2,208,000 after acquiring an additional 2,119 shares during the last quarter. Raymond James Trust N.A. boosted its holdings in shares of Kellanova by 46.9% in the 1st quarter. Raymond James Trust N.A. now owns 8,653 shares of the company’s stock valued at $558,000 after purchasing an additional 2,764 shares during the last quarter. Finally, Cibc World Market Inc. boosted its holdings in shares of Kellanova by 6.4% in the 1st quarter. Cibc World Market Inc. now owns 38,670 shares of the company’s stock valued at $2,494,000 after purchasing an additional 2,313 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $54.68, for a total transaction of $4,254,104.00. Following the completion of the transaction, the insider now directly owns 52,775,838 shares of the company’s stock, valued at approximately $2,885,782,821.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 933,600 shares of company stock valued at $51,308,322 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Kellanova Stock Up 0.2 %

Kellanova stock traded up $0.11 during midday trading on Wednesday, hitting $55.51. 2,295,197 shares of the stock were exchanged, compared to its average volume of 2,664,497. Kellanova has a 1 year low of $47.63 and a 1 year high of $72.30. The firm has a market cap of $18.97 billion, a P/E ratio of 20.19, a P/E/G ratio of 2.07 and a beta of 0.40. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. The company has a 50 day moving average price of $55.46 and a two-hundred day moving average price of $53.97.

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

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova’s dividend payout ratio is currently 81.45%.

Analyst Ratings Changes

K has been the topic of a number of research analyst reports. DA Davidson initiated coverage on shares of Kellanova in a report on Friday, March 1st. They issued a “buy” rating and a $67.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Citigroup initiated coverage on shares of Kellanova in a report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Finally, Stifel Nicolaus lifted their price target on shares of Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $62.27.

Kellanova Company 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.