Curat Global LLC Takes Position in Kellanova (NYSE:K)

Curat Global LLC bought a new position in shares of Kellanova (NYSE:K - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 13,155 shares of the company's stock, valued at approximately $1,085,000. Kellanova comprises 1.3% of Curat Global LLC's holdings, making the stock its 16th largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Caprock Group LLC lifted its holdings in shares of Kellanova by 11.6% during the 4th quarter. Caprock Group LLC now owns 3,349 shares of the company's stock valued at $271,000 after purchasing an additional 348 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Kellanova by 55.9% during the 4th quarter. Spire Wealth Management now owns 1,377 shares of the company's stock valued at $111,000 after purchasing an additional 494 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Kellanova by 29.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,849 shares of the company's stock valued at $2,421,000 after purchasing an additional 6,731 shares in the last quarter. Bleakley Financial Group LLC bought a new position in shares of Kellanova during the 4th quarter valued at about $250,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of Kellanova during the 4th quarter valued at about $1,311,000. Institutional investors own 83.87% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on K shares. Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Wall Street Zen cut Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Finally, Citigroup raised Kellanova to a "neutral" rating and set a $83.50 target price on the stock in a research report on Thursday, May 29th. Fourteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $79.75.

Kellanova Stock Down 0.1%

Kellanova stock traded down $0.10 during midday trading on Friday, reaching $82.06. The stock had a trading volume of 1,453,502 shares, compared to its average volume of 2,768,061. The stock has a market capitalization of $28.47 billion, a P/E ratio of 21.20, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. Kellanova has a 1-year low of $55.96 and a 1-year high of $83.22. The firm's fifty day simple moving average is $82.34 and its 200-day simple moving average is $81.89. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. The firm's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the firm earned $1.01 EPS. As a group, analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.78%. Kellanova's dividend payout ratio (DPR) is 57.58%.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $82.39, for a total transaction of $9,440,493.37. Following the completion of the transaction, the insider now directly owns 46,472,450 shares in the company, valued at approximately $3,828,865,155.50. The trade was a 0.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 1,260,413 shares of company stock valued at $103,715,948 in the last 90 days. 1.80% of the stock is currently owned by insiders.

About Kellanova

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.