GAMMA Investing LLC Acquires 623 Shares of Kellanova (NYSE:K)

GAMMA Investing LLC lifted its position in Kellanova (NYSE:K) by 21.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,553 shares of the company’s stock after buying an additional 623 shares during the period. GAMMA Investing LLC’s holdings in Kellanova were worth $204,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Kellanova by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock worth $1,797,525,000 after purchasing an additional 1,130,582 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Kellanova by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company’s stock worth $316,323,000 after purchasing an additional 98,294 shares in the last quarter. Beutel Goodman & Co Ltd. increased its holdings in Kellanova by 15.5% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock worth $273,504,000 after purchasing an additional 655,686 shares in the last quarter. Northern Trust Corp increased its holdings in Kellanova by 8.7% during the 3rd quarter. Northern Trust Corp now owns 4,116,944 shares of the company’s stock worth $244,999,000 after purchasing an additional 328,658 shares in the last quarter. Finally, Norges Bank bought a new position in Kellanova during the 4th quarter worth about $150,184,000. Institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Barclays increased their price objective on shares of Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Monday, May 6th. TD Cowen increased their price objective on shares of Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Finally, DA Davidson increased their price objective on shares of Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Kellanova has an average rating of “Hold” and an average price target of $61.85.

Kellanova Stock Down 1.8 %

Kellanova stock opened at $57.72 on Friday. The stock has a market cap of $19.73 billion, a P/E ratio of 21.62, a P/E/G ratio of 2.09 and a beta of 0.35. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34. Kellanova has a twelve month low of $47.63 and a twelve month high of $68.69. The company’s 50-day moving average price is $59.51 and its two-hundred day moving average price is $56.66.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The business’s revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.10 EPS. As a group, analysts expect that Kellanova will post 3.61 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were issued a dividend of $0.56 per share. The ex-dividend date was Monday, June 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.88%. Kellanova’s dividend payout ratio is presently 83.90%.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $55.35, for a total transaction of $4,306,230.00. Following the transaction, the insider now directly owns 51,997,838 shares of the company’s stock, valued at $2,878,080,333.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $60.05, for a total value of $588,490.00. Following the transaction, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The sale 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 Kellanova stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $55.35, for a total transaction of $4,306,230.00. Following the completion of the transaction, the insider now directly owns 51,997,838 shares in the company, valued at $2,878,080,333.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 787,800 shares of company stock valued at $46,428,250. 1.80% of the stock is currently owned by company 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.