Savoir Faire Capital Management L.P. Grows Position in Kellanova (NYSE:K)

Savoir Faire Capital Management L.P. raised its holdings in Kellanova (NYSE:K - Free Report) by 125.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,826 shares of the company's stock after buying an additional 68,249 shares during the period. Kellanova comprises approximately 3.0% of Savoir Faire Capital Management L.P.'s investment portfolio, making the stock its 9th biggest holding. Savoir Faire Capital Management L.P.'s holdings in Kellanova were worth $6,867,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of K. Stratos Wealth Partners LTD. grew its position in shares of Kellanova by 9.1% in the third quarter. Stratos Wealth Partners LTD. now owns 5,444 shares of the company's stock valued at $324,000 after purchasing an additional 452 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Kellanova by 25.6% in the third quarter. Mackenzie Financial Corp now owns 186,750 shares of the company's stock valued at $11,113,000 after purchasing an additional 38,037 shares during the last quarter. IFM Investors Pty Ltd grew its position in shares of Kellanova by 3.9% in the third quarter. IFM Investors Pty Ltd now owns 55,757 shares of the company's stock valued at $3,318,000 after purchasing an additional 2,116 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Kellanova by 5.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 135,079 shares of the company's stock worth $7,877,000 after buying an additional 7,551 shares in the last quarter. Finally, Park Avenue Securities LLC acquired a new stake in Kellanova during the third quarter worth approximately $309,000. Institutional investors own 83.87% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Piper Sandler increased their price target on Kellanova from $59.00 to $60.00 and gave the stock a "neutral" rating in a research report on Monday, February 12th. StockNews.com cut Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, February 9th. Barclays upped their target price on Kellanova from $60.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Monday. DA Davidson upped their target price on Kellanova from $67.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Citigroup initiated coverage on Kellanova in a research note on Thursday, February 1st. They set a "neutral" rating and a $57.00 target price for the company. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Kellanova presently has a consensus rating of "Hold" and an average price target of $61.85.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company's stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $60.92, for a total transaction of $4,739,576.00. Following the sale, the insider now directly owns 51,764,438 shares in the company, valued at approximately $3,153,489,562.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Nicolas Amaya sold 9,800 shares of the company's stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the sale, the senior vice president now owns 26,191 shares of the company's stock, valued at approximately $1,572,769.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company's stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $60.92, for a total transaction of $4,739,576.00. Following the sale, the insider now directly owns 51,764,438 shares in the company, valued at approximately $3,153,489,562.96. The disclosure for this sale can be found here. Insiders have sold a total of 943,400 shares of company stock worth $53,047,474 over the last three months. 1.80% of the stock is currently owned by insiders.

Kellanova Stock Up 0.4 %

Shares of NYSE K traded up $0.26 during trading on Friday, hitting $61.86. The stock had a trading volume of 2,188,221 shares, compared to its average volume of 3,237,198. The firm has a fifty day moving average of $56.54 and a two-hundred day moving average of $54.85. The company has a market capitalization of $21.15 billion, a PE ratio of 23.07, a PEG ratio of 2.32 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. Kellanova has a 12 month low of $47.63 and a 12 month high of $71.19.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.16. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. Kellanova's quarterly revenue was down 4.2% compared to the same quarter last year. During the same period last year, the company posted $1.10 earnings per share. As a group, equities research analysts forecast that Kellanova will post 3.58 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Monday, June 3rd. Kellanova's payout ratio is 83.90%.

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.

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