Simmons Bank Purchases Shares of 2,710 Kellanova (NYSE:K)

Simmons Bank acquired a new position in Kellanova (NYSE:K) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,710 shares of the company’s stock, valued at approximately $219,000.

Several other institutional investors have also recently made changes to their positions in K. OVERSEA CHINESE BANKING Corp Ltd grew its stake in Kellanova by 2.4% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 454,608 shares of the company’s stock valued at $36,691,000 after acquiring an additional 10,639 shares in the last quarter. Entropy Technologies LP grew its position in shares of Kellanova by 80.0% during the third quarter. Entropy Technologies LP now owns 62,296 shares of the company’s stock valued at $5,028,000 after purchasing an additional 27,692 shares in the last quarter. Versor Investments LP bought a new stake in shares of Kellanova in the third quarter worth about $4,419,000. Wolverine Asset Management LLC purchased a new stake in shares of Kellanova in the third quarter worth about $1,815,000. Finally, Ashton Thomas Securities LLC bought a new position in Kellanova during the third quarter valued at approximately $78,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

K has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Bank of America raised shares of Kellanova from a “neutral” rating to a “buy” rating and upped their price target for the company from $62.00 to $70.00 in a research note on Friday, August 2nd. Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $80.00 to $83.50 in a report on Monday, August 26th. Finally, Barclays increased their price target on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Fifteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $76.35.

Kellanova Price Performance

Shares of K stock opened at $80.86 on Friday. The company’s 50-day simple moving average is $80.69 and its two-hundred day simple moving average is $69.67. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. Kellanova has a one year low of $51.02 and a one year high of $81.34. The company has a market capitalization of $27.87 billion, a P/E ratio of 27.79, a P/E/G ratio of 2.60 and a beta of 0.39.

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

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.57 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.82%. Kellanova’s dividend payout ratio is presently 78.35%.

Insider Activity at Kellanova

In related 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 28th. The shares were sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the completion of the transaction, the insider now owns 50,597,438 shares in the company, valued at $4,079,165,451.56. The trade was a 0.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 1,072,264 shares of company stock valued at $86,452,375 over the last ninety days. 1.80% of the stock is owned by company insiders.

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.