GAMMA Investing LLC Increases Stake in Kellanova (NYSE:K)

GAMMA Investing LLC boosted its position in Kellanova (NYSE:K - Free Report) by 8,377.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 568,274 shares of the company's stock after purchasing an additional 561,571 shares during the period. GAMMA Investing LLC owned about 0.16% of Kellanova worth $46,877,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on K. Royal Bank of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Wall Street Zen lowered Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Finally, Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 target price on the stock in a research report on Thursday, May 29th. Fourteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, Kellanova presently has an average rating of "Hold" and a consensus target price of $79.75.

Kellanova Trading Down 0.1%

Shares of K traded down $0.11 during mid-day trading on Friday, reaching $82.05. 863,810 shares of the company were exchanged, compared to its average volume of 2,760,837. The business has a 50 day simple moving average of $82.34 and a two-hundred day simple moving average of $81.89. Kellanova has a 52 week low of $55.96 and a 52 week high of $83.22. The stock has a market capitalization of $28.46 billion, a PE ratio of 21.20, a PEG ratio of 4.21 and a beta of 0.30. 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 announced its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. The firm's revenue for the quarter was down 3.7% compared to the same quarter last year. On average, analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

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

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $82.31, for a total value of $9,431,326.73. Following the completion of the transaction, the insider now directly owns 47,503,697 shares of the company's stock, valued at $3,910,029,300.07. This represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 1,260,413 shares of company stock valued at $103,715,948 over the last ninety days. 1.80% of the stock is currently 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.