Dover Advisors LLC Makes New $330,000 Investment in Kellanova (NYSE:K)

Dover Advisors LLC bought a new position in Kellanova (NYSE:K - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,000 shares of the company's stock, valued at approximately $330,000.

Other hedge funds also recently bought and sold shares of the company. Stonebridge Financial Group LLC bought a new stake in shares of Kellanova during the 4th quarter worth about $27,000. BankPlus Trust Department bought a new stake in shares of Kellanova during the 4th quarter worth about $28,000. Rialto Wealth Management LLC bought a new stake in shares of Kellanova during the 4th quarter worth about $32,000. Flagship Wealth Advisors LLC bought a new stake in shares of Kellanova during the 4th quarter worth about $32,000. Finally, First Horizon Advisors Inc. boosted its stake in Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock valued at $36,000 after purchasing an additional 173 shares during the period. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Trading Down 0.4%

K stock traded down $0.35 during midday trading on Friday, hitting $79.87. 4,243,205 shares of the company's stock were exchanged, compared to its average volume of 2,834,249. The stock's fifty day moving average price is $82.22 and its 200-day moving average price is $81.90. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The company has a market cap of $27.71 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. Kellanova has a one year low of $55.96 and a one year high of $83.22.

Kellanova (NYSE:K - Get Free Report) last posted its 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). Kellanova had a return on equity of 37.25% and a net margin of 10.53%. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the firm posted $1.01 earnings per share. The business's revenue was down 3.7% on a year-over-year basis. Research analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.85%. Kellanova's dividend payout ratio is currently 57.58%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on K. Wall Street Zen downgraded Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 target price for the company in a research note on Thursday, May 29th. Finally, Royal Bank of Canada downgraded Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Fourteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Kellanova currently has an average rating of "Hold" and a consensus target price of $79.75.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $81.89, for a total transaction of $9,383,201.87. Following the transaction, the insider now owns 46,357,867 shares of the company's stock, valued at $3,796,245,728.63. The trade was a 0.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 1,260,413 shares of company stock valued at $103,673,553. 1.80% of the stock is owned by insiders.

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.