KLCM Advisors Inc. Grows Stock Holdings in Kellanova (NYSE:K)

KLCM Advisors Inc. boosted its position in Kellanova (NYSE:K - Free Report) by 847.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,448 shares of the company's stock after acquiring an additional 38,860 shares during the period. KLCM Advisors Inc.'s holdings in Kellanova were worth $2,429,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in shares of Kellanova by 0.3% in the first quarter. International Assets Investment Management LLC now owns 51,858 shares of the company's stock worth $170,000 after acquiring an additional 159 shares during the period. Castleview Partners LLC grew its stake in shares of Kellanova by 5.4% in the first quarter. Castleview Partners LLC now owns 3,218 shares of the company's stock worth $215,000 after acquiring an additional 164 shares during the period. Moors & Cabot Inc. grew its stake in shares of Kellanova by 1.7% in the first quarter. Moors & Cabot Inc. now owns 10,272 shares of the company's stock worth $662,000 after acquiring an additional 169 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in shares of Kellanova by 2.7% in the third quarter. Mercer Global Advisors Inc. ADV now owns 6,744 shares of the company's stock worth $470,000 after acquiring an additional 178 shares during the period. Finally, M&T Bank Corp grew its stake in shares of Kellanova by 0.5% in the third quarter. M&T Bank Corp now owns 38,834 shares of the company's stock worth $2,707,000 after acquiring an additional 189 shares during the period. Institutional investors own 83.87% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on K. Piper Sandler lifted their price target on shares of Kellanova from $59.00 to $60.00 and gave the stock a "neutral" rating in a research note on Monday, February 12th. JPMorgan Chase & Co. boosted their target price on shares of Kellanova from $53.00 to $59.00 and gave the company a "neutral" rating in a research report on Friday, February 9th. Citigroup assumed coverage on shares of Kellanova in a research report on Thursday, February 1st. They set a "neutral" rating and a $57.00 target price for the company. StockNews.com lowered shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, February 9th. Finally, Wells Fargo & Company boosted their target price on shares of Kellanova from $56.00 to $58.00 and gave the company an "equal weight" rating in a research report on Friday, February 9th. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kellanova has a consensus rating of "Hold" and an average price target of $62.27.

Kellanova Price Performance

NYSE:K traded up $0.56 during trading hours on Wednesday, hitting $56.07. 1,768,883 shares of the stock traded hands, compared to its average volume of 3,164,284. The company has a quick ratio of 0.41, a current ratio of 0.66 and a debt-to-equity ratio of 1.51. Kellanova has a 1 year low of $47.63 and a 1 year high of $72.30. The company has a market cap of $19.16 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 2.07 and a beta of 0.40. The stock has a 50 day moving average price of $55.50 and a 200 day moving average price of $53.99.

Kellanova (NYSE:K - Get Free Report) last released its earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter in the previous year, the firm earned $0.94 earnings per share. The company's quarterly revenue was up .3% compared to the same quarter last year. Sell-side analysts forecast that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 4.00%. The ex-dividend date was Thursday, February 29th. Kellanova's dividend payout ratio (DPR) is presently 81.45%.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business's stock in a transaction on Monday, April 8th. The shares were sold at an average price of $57.46, for a total value of $4,470,388.00. Following the transaction, the insider now owns 52,075,638 shares of the company's stock, valued at $2,992,266,159.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 933,600 shares of company stock valued at $51,308,322. 1.80% of the stock is currently owned by corporate insiders.

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.