Summit Trail Advisors LLC Boosts Holdings in Kellanova (NYSE:K)

Summit Trail Advisors LLC lifted its stake in shares of Kellanova (NYSE:K) by 140.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,557 shares of the company’s stock after purchasing an additional 5,003 shares during the period. Summit Trail Advisors LLC’s holdings in Kellanova were worth $691,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of K. D. E. Shaw & Co. Inc. increased its stake 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 in the last quarter. Maverick Capital Ltd. purchased a new stake in shares of Kellanova during the second quarter worth approximately $88,065,000. Point72 Asset Management L.P. purchased a new stake in shares of Kellanova during the second quarter worth approximately $63,585,000. Boston Partners raised its stake in Kellanova by 117.1% in 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 last quarter. Finally, AQR Capital Management LLC lifted its holdings in Kellanova by 130.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,077,018 shares of the company’s stock valued at $62,122,000 after purchasing an additional 608,989 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Down 0.1 %

Shares of NYSE:K opened at $81.11 on Tuesday. The company has a market capitalization of $27.96 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 2.61 and a beta of 0.39. Kellanova has a 12-month low of $51.02 and a 12-month high of $81.34. The business has a 50-day moving average price of $80.78 and a 200 day moving average price of $70.85. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34.

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

Kellanova Dividend Announcement

The firm 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 is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total value of $6,272,236.00. Following the sale, the insider now owns 50,597,438 shares of the company’s stock, valued at $4,079,165,451.56. This trade represents a 0.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 1,109,047 shares of company stock valued at $89,483,556 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

K has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Barclays raised their target price on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Royal Bank of Canada lowered Kellanova from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. Evercore ISI upgraded Kellanova to a “hold” rating in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a report on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and an average target price of $76.35.

Kellanova 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.