GAMMA Investing LLC Boosts Stake in Kellanova (NYSE:K)

GAMMA Investing LLC raised its position in shares of Kellanova (NYSE:K) by 10.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,703 shares of the company’s stock after buying an additional 626 shares during the quarter. GAMMA Investing LLC’s holdings in Kellanova were worth $543,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. CVA Family Office LLC raised its position in shares of Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after buying an additional 307 shares in the last quarter. Newbridge Financial Services Group Inc. increased its stake in Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares during the last quarter. MCF Advisors LLC raised its position in Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after purchasing an additional 137 shares during the period. Capital Advisors Ltd. LLC lifted its stake in shares of Kellanova by 41.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after purchasing an additional 158 shares during the last quarter. Finally, Mather Group LLC. boosted its holdings in shares of Kellanova by 71.3% in the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after purchasing an additional 256 shares during the period. Institutional investors own 83.87% of the company’s stock.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.96, for a total transaction of $9,276,639.68. Following the sale, the insider now owns 49,795,357 shares of the company’s stock, valued at $4,031,432,102.72. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 916,664 shares of company stock valued at $74,105,409. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on K. StockNews.com initiated coverage on Kellanova in a research report on Monday, December 30th. They issued a “hold” rating for the company. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Friday, November 1st. Finally, Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $76.35.

Kellanova Stock Up 0.2 %

Shares of NYSE:K opened at $81.21 on Monday. The business’s 50 day moving average is $80.81 and its 200 day moving average is $75.01. The stock has a market cap of $27.99 billion, a P/E ratio of 27.91, a price-to-earnings-growth ratio of 2.59 and a beta of 0.38. Kellanova has a 52-week low of $52.46 and a 52-week high of $81.34. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 EPS. Sell-side analysts predict that Kellanova will post 3.74 EPS for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were issued a $0.57 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. Kellanova’s dividend payout ratio is currently 78.35%.

Kellanova Company 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.