Northwest Investment Counselors LLC Takes Position in Kellanova (NYSE:K)

Northwest Investment Counselors LLC bought a new position in Kellanova (NYSE:K) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,896 shares of the company’s stock, valued at approximately $166,000.

Other institutional investors have also recently bought and sold shares of the company. Rockland Trust Co. increased its stake in Kellanova by 2.1% during the first quarter. Rockland Trust Co. now owns 12,639 shares of the company’s stock worth $724,000 after acquiring an additional 264 shares during the last quarter. Banque Cantonale Vaudoise raised its holdings in Kellanova by 35.5% in the first quarter. Banque Cantonale Vaudoise now owns 79,701 shares of the company’s stock valued at $4,566,000 after buying an additional 20,866 shares during the period. Czech National Bank lifted its position in Kellanova by 0.5% during the first quarter. Czech National Bank now owns 46,405 shares of the company’s stock valued at $2,659,000 after buying an additional 213 shares in the last quarter. Thomasville National Bank grew its stake in Kellanova by 6.5% during the first quarter. Thomasville National Bank now owns 52,464 shares of the company’s stock worth $3,006,000 after buying an additional 3,212 shares during the period. Finally, Alaska Permanent Fund Corp increased its position in shares of Kellanova by 1.0% in the first quarter. Alaska Permanent Fund Corp now owns 194,420 shares of the company’s stock worth $11,138,000 after acquiring an additional 1,960 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $57.71, for a total value of $4,489,838.00. Following the transaction, the insider now owns 51,297,638 shares of the company’s stock, valued at $2,960,386,688.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Nicolas Amaya sold 9,800 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $57.71, for a total transaction of $4,489,838.00. Following the completion of the sale, the insider now directly owns 51,297,638 shares in the company, valued at approximately $2,960,386,688.98. The disclosure for this sale can be found here. Insiders sold a total of 865,600 shares of company stock worth $50,918,088 over the last 90 days. Insiders own 1.80% of the company’s stock.

Kellanova Trading Up 1.4 %

K opened at $58.26 on Tuesday. The stock has a market capitalization of $19.92 billion, a PE ratio of 21.82, a P/E/G ratio of 2.04 and a beta of 0.35. 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 $68.69. The firm’s fifty day moving average price is $59.61 and its 200 day moving average price is $56.76.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. The business 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 company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.10 earnings per share. As a group, research analysts expect that Kellanova will post 3.61 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date was Monday, June 3rd. Kellanova’s dividend payout ratio is presently 83.90%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on K. Barclays upped their price target on shares of Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. DA Davidson upped their target price on Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. raised their target price on Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Finally, TD Cowen upped their price target on Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.83.

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.