Kennon Green & Company LLC Has $245,000 Position in Kellanova (NYSE:K)

Kennon Green & Company LLC lessened its position in Kellanova (NYSE:K) by 19.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,380 shares of the company’s stock after selling 1,040 shares during the period. Kennon Green & Company LLC’s holdings in Kellanova were worth $245,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Invesco Ltd. raised its holdings in Kellanova by 29.4% during the 3rd quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock worth $296,971,000 after buying an additional 1,132,485 shares during the period. Van ECK Associates Corp raised its holdings in shares of Kellanova by 27.4% during the third quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock worth $291,061,000 after acquiring an additional 1,051,922 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its position in Kellanova by 738.6% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 420,781 shares of the company’s stock valued at $23,522,000 after acquiring an additional 370,607 shares in the last quarter. Deutsche Bank AG increased its holdings in Kellanova by 27.4% during the 3rd quarter. Deutsche Bank AG now owns 1,607,621 shares of the company’s stock worth $95,670,000 after purchasing an additional 345,830 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Kellanova by 8.7% in the 3rd quarter. Northern Trust Corp now owns 4,116,944 shares of the company’s stock valued at $244,999,000 after purchasing an additional 328,658 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Stock Performance

Shares of K traded up $0.33 during mid-day trading on Monday, reaching $58.06. The company’s stock had a trading volume of 1,386,221 shares, compared to its average volume of 3,078,010. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51. Kellanova has a 1-year low of $47.63 and a 1-year high of $72.30. The business has a 50-day simple moving average of $55.96 and a two-hundred day simple moving average of $54.33. The stock has a market cap of $19.84 billion, a P/E ratio of 21.09, a PEG ratio of 2.21 and a beta of 0.40.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.04. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.07 billion. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 EPS. As a group, equities research analysts anticipate 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 given a dividend of $0.56 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.24 annualized dividend and a yield of 3.86%. Kellanova’s dividend payout ratio (DPR) is presently 81.45%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on K. Barclays increased their price objective on Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Piper Sandler boosted their price objective on shares of Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Citigroup began coverage on shares of Kellanova in a research report on Thursday, February 1st. They set a “neutral” rating and a $57.00 price target on the stock. Finally, Wells Fargo & Company increased 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $62.27.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $53.67, for a total value of $4,175,526.00. Following the transaction, the insider now directly owns 52,620,238 shares of the company’s stock, valued at approximately $2,824,128,173.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 855,800 shares of company stock worth $47,378,644 over the last quarter. Company insiders own 1.80% of the company’s stock.

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.