International Assets Investment Management LLC Purchases 85,638 Shares of Kellanova (NYSE:K)

International Assets Investment Management LLC grew its position in shares of Kellanova (NYSE:K) by 7,849.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,729 shares of the company’s stock after acquiring an additional 85,638 shares during the period. International Assets Investment Management LLC’s holdings in Kellanova were worth $7,000,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. increased its position in shares of Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after buying an additional 170 shares during the period. Family Firm Inc. purchased a new stake in Kellanova in the second quarter worth about $29,000. CVA Family Office LLC grew its holdings in Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after purchasing an additional 307 shares during the period. BNP Paribas purchased a new stake in Kellanova in the first quarter worth about $30,000. Finally, Newbridge Financial Services Group Inc. grew its holdings in Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares during the period. 83.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on K. Wells Fargo & Company upped their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and increased their price objective for the company from $62.00 to $70.00 in a research report on Friday, August 2nd. Piper Sandler increased their price objective on shares of Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Stifel Nicolaus increased their price target on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Finally, BNP Paribas upgraded shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price target on the stock in a research report on Monday, August 5th. Fifteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Kellanova currently has a consensus rating of “Hold” and an average price target of $74.32.

Kellanova Trading Down 0.2 %

Shares of K opened at $80.65 on Friday. Kellanova has a 1-year low of $50.14 and a 1-year high of $81.26. The company has a 50-day moving average of $80.63 and a 200 day moving average of $68.09. The firm has a market capitalization of $27.80 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 2.60 and a beta of 0.39. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the business posted $1.25 EPS. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, research analysts expect that Kellanova will post 3.7 EPS for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. Kellanova’s dividend payout ratio is currently 86.36%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total value of $6,227,890.00. Following the transaction, the insider now owns 50,753,038 shares of the company’s stock, valued at $4,062,780,691.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the sale, the insider now owns 50,753,038 shares of the company’s stock, valued at approximately $4,062,780,691.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the sale, the insider now directly owns 50,482,855 shares in the company, valued at approximately $4,051,249,113.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,227,864 shares of company stock worth $98,438,243. 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.