5,000 Shares in Kellanova $K Bought by Bluefin Capital Management LLC

Key Points

• Bluefin Capital Management LLC purchased 5,000 shares of Kellanova for approximately $412,000, reflecting growing institutional interest in the company.
• Kellanova declared a quarterly dividend of $0.58 per share, marking an increase from its previous dividend of $0.57, with the dividend yield at 2.9%.
• Insider sales included a transaction where the Kellogg W. K. Foundation Trust sold 114,599 shares at an average price of $79.55, reducing their ownership by 0.25%.

Bluefin Capital Management LLC bought a new position in Kellanova (NYSE:K - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,000 shares of the company's stock, valued at approximately $412,000.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Kellanova by 0.8% in the first quarter. Vanguard Group Inc. now owns 32,695,348 shares of the company's stock worth $2,697,039,000 after purchasing an additional 259,604 shares in the last quarter. Keybank National Association OH raised its holdings in Kellanova by 0.7% in the first quarter. Keybank National Association OH now owns 19,718,498 shares of the company's stock worth $1,626,579,000 after purchasing an additional 128,439 shares in the last quarter. Pentwater Capital Management LP raised its holdings in Kellanova by 39.0% in the first quarter. Pentwater Capital Management LP now owns 8,000,000 shares of the company's stock worth $659,920,000 after purchasing an additional 2,245,000 shares in the last quarter. Northern Trust Corp raised its holdings in Kellanova by 3.0% in the first quarter. Northern Trust Corp now owns 4,015,549 shares of the company's stock worth $331,243,000 after purchasing an additional 117,650 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Kellanova by 11.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,953,288 shares of the company's stock worth $243,617,000 after acquiring an additional 292,063 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of Kellanova stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total value of $9,116,350.45. Following the completion of the sale, the insider directly owned 45,097,438 shares of the company's stock, valued at approximately $3,587,501,192.90. The trade was a 0.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 1,145,846 shares of company stock worth $91,267,778 in the last ninety days. 1.80% of the stock is owned by company insiders.

Kellanova Trading Up 0.2%

Shares of K stock opened at $79.49 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45. The company has a market cap of $27.63 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 4.94 and a beta of 0.27. The stock has a 50 day simple moving average of $79.80 and a 200-day simple moving average of $81.16. Kellanova has a 1-year low of $77.70 and a 1-year high of $83.22.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.05). The firm had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.19 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The firm's revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 earnings per share. On average, equities research analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.58 per share. This is a boost from Kellanova's previous quarterly dividend of $0.57. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, September 2nd. Kellanova's dividend payout ratio (DPR) is 60.89%.

Wall Street Analyst Weigh In

K has been the subject of a number of research reports. JPMorgan Chase & Co. started coverage on Kellanova in a report on Wednesday, August 20th. They set a "neutral" rating and a $83.50 target price for the company. Citigroup upgraded shares of Kellanova to a "neutral" rating and set a $83.50 price target on the stock in a report on Thursday, May 29th. Finally, Wall Street Zen downgraded shares of Kellanova from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Kellanova currently has a consensus rating of "Hold" and a consensus target price of $83.38.

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.

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