Css LLC Il Increases Holdings in Kellanova (NYSE:K)

CSS LLC IL boosted its stake in shares of Kellanova (NYSE:K - Free Report) by 3,312.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,651 shares of the company's stock after buying an additional 13,251 shares during the period. CSS LLC IL's holdings in Kellanova were worth $1,105,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new position in Kellanova in the 4th quarter valued at approximately $27,000. BankPlus Trust Department purchased a new position in shares of Kellanova in the fourth quarter worth $28,000. Rialto Wealth Management LLC bought a new position in shares of Kellanova during the fourth quarter valued at $32,000. Flagship Wealth Advisors LLC bought a new position in shares of Kellanova during the fourth quarter valued at $32,000. Finally, First Horizon Advisors Inc. boosted 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 valued at $36,000 after buying an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

Kellanova Stock Performance

Shares of NYSE:K traded up $0.02 during trading on Tuesday, hitting $82.41. The company's stock had a trading volume of 1,484,313 shares, compared to its average volume of 2,755,933. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The firm has a market cap of $28.59 billion, a price-to-earnings ratio of 21.29, a P/E/G ratio of 4.21 and a beta of 0.30. The company has a 50-day moving average of $82.37 and a 200-day moving average of $81.83. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22.

Kellanova (NYSE:K - Get Free Report) last announced 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 business had revenue of $3.08 billion for the quarter, compared to analysts' expectations of $3.16 billion. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The firm's quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 earnings per share. On average, sell-side analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors 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 yield of 2.77%. Kellanova's dividend payout ratio (DPR) is presently 57.58%.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $82.55, for a total value of $9,458,826.65. Following the completion of the sale, the insider now directly owns 47,732,863 shares of the company's stock, valued at $3,940,347,840.65. This represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 1,374,996 shares of company stock valued at $113,210,296. Company insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

K has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Wall Street Zen cut shares of Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Thirteen investment 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, Kellanova currently has a consensus rating of "Hold" and an average price target of $79.41.

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.