MBB Public Markets I LLC Makes New Investment in Kellanova $K

Key Points

• MBB Public Markets I LLC invested approximately $326,000 in Kellanova by purchasing 3,950 shares in the first quarter of the year.
• Kellanova's new quarterly dividend will be $0.58 per share, representing a 2.9% yield, which is an increase from the previous dividend of $0.57.
• Analysts have given Kellanova a consensus rating of "Hold" with an average price target of $83.38.

MBB Public Markets I LLC bought a new stake in shares of Kellanova (NYSE:K - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,950 shares of the company's stock, valued at approximately $326,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of K. Grove Bank & Trust bought a new position in shares of Kellanova in the first quarter valued at approximately $25,000. Financial Network Wealth Advisors LLC purchased a new stake in Kellanova in the 1st quarter worth approximately $25,000. MorganRosel Wealth Management LLC bought a new position in Kellanova in the 1st quarter valued at $27,000. Minot DeBlois Advisors LLC purchased a new position in shares of Kellanova during the 4th quarter valued at $42,000. Finally, EQ Wealth Advisors LLC bought a new position in shares of Kellanova in the first quarter worth $49,000. 83.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. started coverage on Kellanova in a research note on Wednesday, August 20th. They set a "neutral" rating and a $83.50 price objective for the company. Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 price target for the company in a research report on Thursday, May 29th. Finally, Wall Street Zen raised Kellanova from a "sell" rating to a "hold" rating in a report on Saturday. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $83.38.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the firm's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the transaction, the insider directly owned 45,097,438 shares of the company's stock, valued at approximately $3,587,501,192.90. This trade represents a 0.25% 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. In the last 90 days, insiders have sold 1,145,846 shares of company stock valued at $91,267,778. 1.80% of the stock is owned by company insiders.

Kellanova Price Performance

K stock traded down $0.17 during mid-day trading on Friday, hitting $79.41. 1,279,873 shares of the stock were exchanged, compared to its average volume of 2,510,036. The business has a fifty day moving average price of $79.76 and a 200 day moving average price of $81.10. Kellanova has a 12 month low of $77.70 and a 12 month high of $83.22. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45. The stock has a market capitalization of $27.61 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 4.95 and a beta of 0.27.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.05). The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.19 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. Kellanova's revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 earnings per share. On average, sell-side analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.32 annualized dividend and a dividend yield of 2.9%. This is an increase from Kellanova's previous quarterly dividend of $0.57. Kellanova's payout ratio is 60.89%.

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.