S.A. Mason LLC Purchases 140 Shares of Kellanova (NYSE:K)

S.A. Mason LLC lifted its position in shares of Kellanova (NYSE:K) by 7.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,987 shares of the company’s stock after purchasing an additional 140 shares during the period. S.A. Mason LLC’s holdings in Kellanova were worth $160,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. D. E. Shaw & Co. Inc. lifted its holdings in Kellanova by 766.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after buying an additional 1,664,461 shares during the period. Maverick Capital Ltd. acquired a new position in shares of Kellanova in the second quarter worth approximately $88,065,000. Point72 Asset Management L.P. bought a new stake in Kellanova in the second quarter valued at approximately $63,585,000. Boston Partners increased its position in Kellanova by 117.1% during the 1st quarter. Boston Partners now owns 1,278,079 shares of the company’s stock valued at $73,221,000 after purchasing an additional 689,395 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Kellanova by 130.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,077,018 shares of the company’s stock worth $62,122,000 after purchasing an additional 608,989 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now directly owns 49,795,357 shares of the company’s stock, valued at $4,031,432,102.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $74.01, for a total value of $5,757,978.00. Following the completion of the sale, the insider now directly owns 50,830,838 shares of the company’s stock, valued at $3,761,990,320.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.96, for a total value of $9,276,639.68. Following the completion of the sale, the insider now owns 49,795,357 shares in the company, valued at approximately $4,031,432,102.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,227,864 shares of company stock valued at $98,438,243 in the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

K has been the topic of a number of analyst reports. Wells Fargo & Company increased their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada lowered Kellanova from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. DA Davidson downgraded Kellanova from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $80.00 to $83.50 in a report on Monday, August 26th. Finally, Piper Sandler boosted their price target on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Fifteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $74.32.

Kellanova Trading Up 0.3 %

Shares of Kellanova stock opened at $80.83 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46. The stock has a fifty day simple moving average of $80.63 and a 200 day simple moving average of $68.00. Kellanova has a 12-month low of $50.14 and a 12-month high of $81.26. The company has a market capitalization of $27.86 billion, a P/E ratio of 30.62, a price-to-earnings-growth ratio of 2.60 and a beta of 0.39.

Kellanova (NYSE:K) last announced its earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $3.15 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, sell-side analysts anticipate that Kellanova will post 3.7 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.82%. Kellanova’s dividend payout ratio (DPR) is 86.36%.

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.