Joule Financial LLC Acquires Shares of 2,674 Kellanova (NYSE:K)

Joule Financial LLC acquired a new stake in shares of Kellanova (NYSE:K) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,674 shares of the company’s stock, valued at approximately $216,000.

A number of other hedge funds also recently added to or reduced their stakes in K. Blue Trust Inc. raised its stake in shares of Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after buying an additional 170 shares in the last quarter. Family Firm Inc. purchased a new position in Kellanova in the second quarter valued at about $29,000. CVA Family Office LLC grew its holdings in shares of Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after acquiring an additional 307 shares during the period. BNP Paribas purchased a new position in shares of Kellanova in the first quarter valued at $30,000. Finally, Newbridge Financial Services Group Inc. raised its stake in shares of Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after buying an additional 200 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $57.67, for a total transaction of $4,486,726.00. Following the transaction, the insider now directly owns 50,986,438 shares of the company’s stock, valued at $2,940,387,879.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $57.67, for a total value of $4,486,726.00. Following the transaction, the insider now directly owns 50,986,438 shares of the company’s stock, valued at $2,940,387,879.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $80.65, for a total value of $9,241,118.95. Following the transaction, the insider now owns 50,368,272 shares in the company, valued at approximately $4,062,201,136.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,154,298 shares of company stock worth $88,847,101. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on K shares. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a report on Friday, August 2nd. Bank of America raised Kellanova from a “neutral” rating to a “buy” rating and upped their target price for the company from $62.00 to $70.00 in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. DA Davidson downgraded Kellanova from a “buy” rating to a “neutral” rating and upped their price objective for the company from $80.00 to $83.50 in a research report on Monday, August 26th. Finally, Barclays lifted their price objective on Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Fifteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $74.32.

Kellanova Trading Down 0.0 %

Kellanova stock traded down $0.02 during trading on Friday, reaching $81.00. The company had a trading volume of 297,478 shares, compared to its average volume of 3,120,136. Kellanova has a 12-month low of $49.28 and a 12-month high of $81.21. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. The stock’s 50 day moving average price is $80.05 and its two-hundred day moving average price is $66.42. The firm has a market capitalization of $27.69 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the prior year, the firm posted $1.25 EPS. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, equities analysts expect that Kellanova will post 3.7 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were paid a $0.57 dividend. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Tuesday, September 3rd. Kellanova’s payout ratio is currently 85.39%.

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.