DDD Partners LLC Acquires Shares of 279,127 Kellanova (NYSE:K)

DDD Partners LLC acquired a new stake in shares of Kellanova (NYSE:K - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 279,127 shares of the company's stock, valued at approximately $15,606,000. Kellanova accounts for 2.1% of DDD Partners LLC's portfolio, making the stock its 21st largest holding. DDD Partners LLC owned approximately 0.08% of Kellanova at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cantor Fitzgerald Investment Advisor L.P grew its stake in shares of Kellanova by 95.3% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 424,951 shares of the company's stock worth $27,405,000 after purchasing an additional 207,392 shares during the period. HighTower Advisors LLC increased its holdings in Kellanova by 16.7% in the first quarter. HighTower Advisors LLC now owns 18,121 shares of the company's stock valued at $1,167,000 after buying an additional 2,590 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Kellanova by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,232 shares of the company's stock worth $2,208,000 after acquiring an additional 2,119 shares during the period. Raymond James Trust N.A. boosted its stake in shares of Kellanova by 46.9% during the 1st quarter. Raymond James Trust N.A. now owns 8,653 shares of the company's stock worth $558,000 after acquiring an additional 2,764 shares in the last quarter. Finally, Cibc World Market Inc. grew its position in shares of Kellanova by 6.4% during the 1st quarter. Cibc World Market Inc. now owns 38,670 shares of the company's stock valued at $2,494,000 after acquiring an additional 2,313 shares during the period. Institutional investors and hedge funds own 83.87% of the company's stock.

Kellanova Trading Up 1.1 %

Kellanova stock traded up $0.64 during trading on Thursday, reaching $57.29. The company had a trading volume of 2,948,206 shares, compared to its average volume of 3,314,552. The stock's 50 day moving average price is $54.83 and its two-hundred day moving average price is $54.30. The firm has a market capitalization of $19.58 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 2.09 and a beta of 0.40. Kellanova has a 12-month low of $47.63 and a 12-month high of $72.30. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.41 and a current ratio of 0.66.

Kellanova (NYSE:K - Get Free Report) last announced its earnings results on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.04. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same period in the prior year, the company posted $0.94 EPS. Kellanova's quarterly revenue was up .3% on a year-over-year basis. As a group, equities analysts expect that Kellanova will post 3.57 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.24 annualized dividend and a dividend yield of 3.91%. Kellanova's dividend payout ratio is currently 81.45%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on K. Barclays boosted their target price on shares of Kellanova from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Monday, February 12th. JPMorgan Chase & Co. raised their price objective on shares of Kellanova from $53.00 to $59.00 and gave the company a "neutral" rating in a research note on Friday, February 9th. Piper Sandler increased their target price on shares of Kellanova from $59.00 to $60.00 and gave the company a "neutral" rating in a report on Monday, February 12th. StockNews.com lowered Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, February 9th. Finally, DA Davidson began coverage on shares of Kellanova in a report on Friday, March 1st. They issued a "buy" rating and a $67.00 price target on the stock. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $62.27.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $54.72, for a total transaction of $4,257,216.00. Following the sale, the insider now owns 52,931,438 shares of the company's stock, valued at approximately $2,896,408,287.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 933,600 shares of company stock valued at $51,183,842 in the last quarter. Company insiders own 1.80% of the company's stock.

Kellanova 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.