General Partner Inc. Takes $145,000 Position in Kellanova (NYSE:K)

General Partner Inc. acquired a new stake in shares of Kellanova (NYSE:K) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,790 shares of the company’s stock, valued at approximately $145,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in K. International Assets Investment Management LLC acquired a new stake in shares of Kellanova in the second quarter valued at $63,000. Natixis Advisors LLC lifted its holdings in Kellanova by 12.7% in the 2nd quarter. Natixis Advisors LLC now owns 74,046 shares of the company’s stock valued at $4,271,000 after acquiring an additional 8,373 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Kellanova by 4.2% during the 2nd quarter. Rhumbline Advisers now owns 586,030 shares of the company’s stock valued at $33,802,000 after purchasing an additional 23,777 shares in the last quarter. Strategy Asset Managers LLC acquired a new position in shares of Kellanova in the 2nd quarter worth approximately $592,000. Finally, TD Asset Management Inc grew its position in Kellanova by 3.0% in the second quarter. TD Asset Management Inc now owns 1,391,196 shares of the company’s stock worth $80,244,000 after buying an additional 40,406 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

Kellanova stock traded up $0.13 on Friday, reaching $81.19. 125,714 shares of the stock were exchanged, compared to its average volume of 1,067,904. The stock has a market cap of $27.99 billion, a PE ratio of 27.90, a PEG ratio of 2.59 and a beta of 0.38. The firm has a fifty day moving average price of $80.81 and a two-hundred day moving average price of $74.73. Kellanova has a twelve month low of $52.46 and a twelve month high of $81.34. 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 earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 EPS. Sell-side analysts anticipate that Kellanova will post 3.74 EPS for the current year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is currently 78.35%.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $81.21, for a total value of $9,305,285.43. Following the sale, the insider now directly owns 49,222,442 shares in the company, valued at $3,997,354,514.82. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 1,031,247 shares of company stock worth $83,337,362 in the last ninety days. 1.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. StockNews.com assumed coverage on Kellanova in a research note on Monday. They issued a “hold” rating on the stock. Finally, BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Friday, November 1st. Fifteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $76.35.

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.