Callan Family Office LLC Makes New $364,000 Investment in Kellanova $K

Callan Family Office LLC acquired a new position in shares of Kellanova (NYSE:K - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,583 shares of the company's stock, valued at approximately $364,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of K. GAMMA Investing LLC grew its position in Kellanova by 2.8% during the 1st quarter. GAMMA Investing LLC now owns 6,889 shares of the company's stock worth $568,000 after purchasing an additional 186 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Kellanova by 22.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 19,849 shares of the company's stock worth $1,637,000 after purchasing an additional 3,665 shares during the last quarter. Grove Bank & Trust purchased a new stake in shares of Kellanova in the first quarter valued at about $25,000. State of Alaska Department of Revenue boosted its holdings in shares of Kellanova by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 31,506 shares of the company's stock valued at $2,598,000 after acquiring an additional 850 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Kellanova in the first quarter valued at about $91,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Stock Down 0.2%

K stock opened at $82.80 on Thursday. The company has a market cap of $28.79 billion, a P/E ratio of 21.73, a P/E/G ratio of 5.16 and a beta of 0.24. Kellanova has a 52 week low of $76.48 and a 52 week high of $83.22. The company's 50-day moving average price is $80.13 and its 200 day moving average price is $80.81. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $0.99 by ($0.05). The company 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 quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 EPS. On average, research analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.58 per share. The ex-dividend date was Tuesday, September 2nd. This is an increase from Kellanova's previous quarterly dividend of $0.57. This represents a $2.32 dividend on an annualized basis and a yield of 2.8%. Kellanova's dividend payout ratio (DPR) is presently 60.89%.

Analyst Upgrades and Downgrades

K has been the topic of several analyst reports. Weiss Ratings raised shares of Kellanova from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Kellanova from a "hold" rating to a "sell" rating in a report on Sunday, September 21st. Finally, JPMorgan Chase & Co. initiated coverage on shares of Kellanova in a report on Wednesday, August 20th. They issued a "neutral" rating and a $83.50 target price on the stock. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $83.38.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of Kellanova stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the completion of the transaction, the insider owned 45,097,438 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 572,931 shares of company stock worth $45,755,411 in the last ninety days. 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.

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