Retirement Guys Formula LLC bought a new position in Kellanova (NYSE:K - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 11,327 shares of the company's stock, valued at approximately $934,000.
A number of other large investors have also recently made changes to their positions in the company. Legacy Advisors LLC increased its stake in Kellanova by 7.1% in the first quarter. Legacy Advisors LLC now owns 2,687 shares of the company's stock worth $222,000 after purchasing an additional 179 shares during the period. EQ Wealth Advisors LLC purchased a new stake in shares of Kellanova during the first quarter valued at $49,000. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Kellanova by 0.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 40,733 shares of the company's stock worth $3,360,000 after purchasing an additional 299 shares during the last quarter. Blue Trust Inc. increased its stake in Kellanova by 12.1% in the 1st quarter. Blue Trust Inc. now owns 5,811 shares of the company's stock worth $479,000 after buying an additional 625 shares during the period. Finally, ORG Wealth Partners LLC purchased a new position in Kellanova in the 1st quarter worth about $91,000. 83.87% of the stock is owned by hedge funds and other institutional investors.
Kellanova Trading Down 0.1%
NYSE:K opened at $78.58 on Tuesday. The company has a market capitalization of $27.26 billion, a P/E ratio of 19.84, a PEG ratio of 4.12 and a beta of 0.30. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.25. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. The firm has a fifty day simple moving average of $81.87 and a 200-day simple moving average of $81.85.
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 the consensus estimate of $1.01 by ($0.11). The firm had revenue of $3.08 billion during the quarter, compared to analysts' expectations of $3.16 billion. Kellanova had a return on equity of 34.80% and a net margin of 10.93%. The company's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 earnings per share. On average, equities research analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.
Kellanova Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.90%. Kellanova's payout ratio is 57.58%.
Insider Buying and Selling
In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $78.42, for a total value of $8,985,598.86. Following the completion of the transaction, the insider now owns 46,128,701 shares in the company, valued at $3,617,412,732.42. The trade was a 0.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 1,374,996 shares of company stock valued at $112,416,235 over the last ninety days. Company insiders own 1.80% of the company's stock.
Analyst Ratings Changes
Several research analysts have commented on K shares. Royal Bank Of Canada downgraded Kellanova from a "moderate buy" rating to a "hold" rating in a report 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 price objective for the company in a report on Thursday, May 29th. 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, the stock currently has an average rating of "Hold" and an average target price of $79.75.
View Our Latest Report on K
Kellanova Company Profile
(
Free Report)
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.
Further Reading
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