Bristlecone Advisors LLC Increases Position in Kellanova (NYSE:K)

Bristlecone Advisors LLC lifted its holdings in shares of Kellanova (NYSE:K - Free Report) by 89.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,688 shares of the company's stock after purchasing an additional 17,767 shares during the quarter. Bristlecone Advisors LLC's holdings in Kellanova were worth $2,107,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in K. CGC Financial Services LLC purchased a new position in shares of Kellanova during the second quarter worth approximately $27,000. Oakworth Capital Inc. lifted its holdings in shares of Kellanova by 491.3% during the third quarter. Oakworth Capital Inc. now owns 473 shares of the company's stock worth $28,000 after purchasing an additional 393 shares during the period. Norwood Financial Corp lifted its holdings in shares of Kellanova by 81.8% during the third quarter. Norwood Financial Corp now owns 500 shares of the company's stock worth $30,000 after purchasing an additional 225 shares during the period. Quilter Plc acquired a new stake in Kellanova in the first quarter valued at $498,486,000. Finally, Baker Avenue Asset Management LP increased its position in shares of Kellanova by 205.4% in the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company's stock valued at $30,000 after buying an additional 341 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Kellanova Stock Down 0.2 %

NYSE:K traded down $0.13 during trading hours on Friday, hitting $57.45. 2,160,403 shares of the company's stock traded hands, compared to its average volume of 3,914,867. The firm has a market cap of $19.63 billion, a P/E ratio of 20.89, a P/E/G ratio of 2.15 and a beta of 0.40. Kellanova has a twelve month low of $47.63 and a twelve 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. The stock's fifty day moving average price is $55.26 and its two-hundred day moving average price is $54.13.

Kellanova (NYSE:K - Get Free Report) last issued its earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate 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 firm posted $0.94 EPS. The business's revenue was up .3% compared to the same quarter last year. On average, research analysts expect that Kellanova will post 3.57 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid 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 yield of 3.90%. Kellanova's payout ratio is 81.45%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $56.49, for a total transaction of $4,394,922.00. Following the completion of the sale, the insider now owns 53,009,238 shares in the company, valued at approximately $2,994,491,854.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 933,600 shares of company stock worth $51,183,842 in the last 90 days. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on K shares. Citigroup assumed coverage on Kellanova in a research note on Thursday, February 1st. They issued a "neutral" rating and a $57.00 price objective on the stock. DA Davidson started coverage on Kellanova in a report on Friday, March 1st. They issued a "buy" rating and a $67.00 price target for the company. StockNews.com downgraded Kellanova from a "buy" rating to a "hold" rating in a report on Friday, February 9th. Barclays boosted their price target on Kellanova from $55.00 to $60.00 and gave the company an "equal weight" rating in a report on Monday, February 12th. Finally, Piper Sandler boosted their price target on Kellanova from $59.00 to $60.00 and gave the company a "neutral" rating in a report on Monday, February 12th. Twelve research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $62.27.

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.