Cwm LLC Purchases 6,361 Shares of Kellanova $K

Cwm LLC lifted its position in shares of Kellanova (NYSE:K) by 44.5% in the third quarter, HoldingsChannel reports. The fund owned 20,649 shares of the company’s stock after buying an additional 6,361 shares during the period. Cwm LLC’s holdings in Kellanova were worth $1,694,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Busey Bank acquired a new position in shares of Kellanova in the 3rd quarter valued at $223,000. Iams Wealth Management LLC acquired a new position in shares of Kellanova during the 3rd quarter worth about $218,000. Brookstone Capital Management grew its position in shares of Kellanova by 4.8% during the 3rd quarter. Brookstone Capital Management now owns 14,767 shares of the company’s stock worth $1,211,000 after buying an additional 683 shares during the period. Swedbank AB increased its stake in shares of Kellanova by 10.8% in the 3rd quarter. Swedbank AB now owns 252,161 shares of the company’s stock valued at $20,682,000 after acquiring an additional 24,645 shares during the last quarter. Finally, IFM Investors Pty Ltd increased its stake in shares of Kellanova by 0.6% in the 3rd quarter. IFM Investors Pty Ltd now owns 52,868 shares of the company’s stock valued at $4,121,000 after acquiring an additional 333 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Price Performance

K stock opened at $83.44 on Monday. The stock has a 50-day moving average price of $83.35 and a two-hundred day moving average price of $81.26. Kellanova has a 1 year low of $76.48 and a 1 year high of $83.65. The stock has a market cap of $29.03 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 11.61 and a beta of 0.23. The company has a current ratio of 0.68, a quick ratio of 0.44 and a debt-to-equity ratio of 1.01.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.25 billion. Kellanova had a return on equity of 31.73% and a net margin of 10.08%.The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 earnings per share. Equities analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $2.32 dividend on an annualized basis and a yield of 2.8%. Kellanova’s dividend payout ratio is 63.74%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on K shares. Weiss Ratings lowered shares of Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Wall Street Zen raised shares of Kellanova from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $83.50.

About Kellanova

Kellanova (NYSE: K) is a global consumer foods company formed from the reorganization of the historic Kellogg business. The company focuses on the manufacture, marketing and distribution of packaged food products across several categories, with an emphasis on snacks, ready-to-eat cereals, frozen breakfast and other convenience foods. Kellanova’s operations draw on a long consumer-brands heritage and a portfolio designed to reach everyday retail and snack occasions around the world.

Kellanova’s activities include product development, manufacturing, marketing and global supply-chain management for branded food products.