Kellanova (NYSE:K) Position Boosted by Western Standard LLC

Western Standard LLC lifted its holdings in Kellanova (NYSE:K - Free Report) by 31.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,250 shares of the company's stock after buying an additional 20,250 shares during the period. Kellanova makes up approximately 4.5% of Western Standard LLC's portfolio, making the stock its 8th biggest holding. Western Standard LLC's holdings in Kellanova were worth $6,822,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stonebridge Financial Group LLC bought a new position in Kellanova during the fourth quarter valued at $27,000. BankPlus Trust Department purchased a new stake in shares of Kellanova during the fourth quarter worth $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Kellanova during the fourth quarter worth $32,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Kellanova during the fourth quarter worth $32,000. Finally, First Horizon Advisors Inc. lifted its position in shares of Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock worth $36,000 after acquiring an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $82.55, for a total transaction of $9,458,826.65. Following the transaction, the insider now directly owns 47,732,863 shares of the company's stock, valued at approximately $3,940,347,840.65. This trade represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 1,260,413 shares of company stock valued at $103,786,990. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. StockNews.com downgraded Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Royal Bank of Canada downgraded Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Thirteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $79.41.

Kellanova Trading Up 0.1%

Shares of K stock opened at $82.40 on Tuesday. The company has a market capitalization of $28.59 billion, a PE ratio of 21.29, a price-to-earnings-growth 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 has a 52-week low of $55.96 and a 52-week high of $83.22. The business's fifty day moving average is $82.37 and its 200 day moving average is $81.77.

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

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. Kellanova's dividend payout ratio is presently 57.58%.

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.

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