International Assets Investment Management LLC Increases Position in Kellanova (NYSE:K)

International Assets Investment Management LLC grew its holdings in Kellanova (NYSE:K) by 133.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 60,885 shares of the company’s stock after buying an additional 34,800 shares during the period. International Assets Investment Management LLC’s holdings in Kellanova were worth $3,404,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oakworth Capital Inc. raised its holdings in Kellanova by 491.3% during the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after purchasing an additional 393 shares in the last quarter. Norwood Financial Corp raised its holdings in Kellanova by 81.8% during the third quarter. Norwood Financial Corp now owns 500 shares of the company’s stock worth $30,000 after purchasing an additional 225 shares in the last quarter. Baker Avenue Asset Management LP raised its holdings in Kellanova by 205.4% during the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after purchasing an additional 341 shares in the last quarter. Cowa LLC purchased a new position in Kellanova during the first quarter worth about $33,000. Finally, Blue Trust Inc. raised its holdings in Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after purchasing an additional 206 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $53.59, for a total transaction of $4,169,302.00. Following the completion of the sale, the insider now directly owns 52,853,638 shares of the company’s stock, valued at approximately $2,832,426,460.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 933,600 shares of company stock worth $51,308,322. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on K shares. Piper Sandler upped their target price on shares of Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Wells Fargo & Company lifted their price target on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. DA Davidson started coverage on shares of Kellanova in a research report on Friday, March 1st. They set a “buy” rating and a $67.00 price target for the company. Finally, Citigroup started coverage on shares of Kellanova in a research report on Thursday, February 1st. They set a “neutral” rating and a $57.00 price target for the company. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.27.

Kellanova Trading Up 1.0 %

Shares of K opened at $56.07 on Thursday. The stock has a fifty day moving average of $55.50 and a two-hundred day moving average of $53.99. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.41 and a current ratio of 0.66. The company has a market capitalization of $19.16 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 2.07 and a beta of 0.40. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $72.30.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04. The company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.07 billion. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. Kellanova’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 EPS. As a group, analysts forecast that Kellanova will post 3.57 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.56 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.24 annualized dividend and a yield of 4.00%. Kellanova’s dividend payout ratio (DPR) is presently 81.45%.

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.