Wrapmanager Inc. Takes Position in Kellanova (NYSE:K)

Wrapmanager Inc. bought a new position in Kellanova (NYSE:K) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 2,484 shares of the company’s stock, valued at approximately $200,000.

Other hedge funds have also added to or reduced their stakes in the company. Sei Investments Co. increased its holdings in shares of Kellanova by 2.6% in the first quarter. Sei Investments Co. now owns 79,195 shares of the company’s stock worth $4,537,000 after buying an additional 1,984 shares during the period. Edgestream Partners L.P. increased its stake in Kellanova by 23.2% in the 1st quarter. Edgestream Partners L.P. now owns 22,751 shares of the company’s stock worth $1,303,000 after purchasing an additional 4,280 shares during the period. Clearbridge Investments LLC lifted its position in Kellanova by 3.0% in the first quarter. Clearbridge Investments LLC now owns 651,836 shares of the company’s stock valued at $37,344,000 after purchasing an additional 19,170 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Kellanova by 4.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock valued at $14,705,000 after purchasing an additional 10,676 shares during the period. Finally, LGT Group Foundation increased its stake in shares of Kellanova by 49.5% in the first quarter. LGT Group Foundation now owns 8,075 shares of the company’s stock worth $463,000 after buying an additional 2,675 shares during the period. 83.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Stifel Nicolaus raised their target price on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. increased their price objective on Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. StockNews.com assumed coverage on shares of Kellanova in a report on Wednesday. They issued a “hold” rating on the stock. Finally, DA Davidson cut Kellanova from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $76.35.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the sale, the insider now owns 50,482,855 shares in the company, valued at $4,051,249,113.75. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold 994,464 shares of company stock worth $80,203,479 in the last quarter. Company insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

Shares of NYSE K opened at $80.50 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm’s 50-day moving average price is $80.73 and its 200-day moving average price is $70.29. Kellanova has a 52-week low of $51.02 and a 52-week high of $81.34. The company has a market cap of $27.75 billion, a PE ratio of 27.66, a PEG ratio of 2.59 and a beta of 0.39.

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

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.83%. Kellanova’s dividend payout ratio is currently 78.35%.

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.