Brooklyn Investment Group Increases Holdings in Kellanova (NYSE:K)

Brooklyn Investment Group raised its stake in Kellanova (NYSE:K) by 26.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,677 shares of the company’s stock after acquiring an additional 352 shares during the period. Brooklyn Investment Group’s holdings in Kellanova were worth $136,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of K. State Street Corp raised its holdings in Kellanova by 5.2% in the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after acquiring an additional 731,273 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Kellanova by 3.0% during the third quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock valued at $541,052,000 after purchasing an additional 196,564 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Kellanova by 11.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock valued at $150,909,000 after buying an additional 277,171 shares during the last quarter. D. E. Shaw & Co. Inc. increased its holdings in Kellanova by 766.5% in 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. Finally, Barclays PLC raised its position in Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after buying an additional 1,033,383 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $80.76, for a total value of $9,253,723.08. Following the completion of the transaction, the insider now directly owns 49,680,774 shares in the company, valued at $4,012,219,308.24. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 1,031,247 shares of company stock worth $83,509,236. Corporate insiders own 1.80% of the company’s stock.

Kellanova Stock Up 0.2 %

NYSE K opened at $81.73 on Friday. Kellanova has a 52 week low of $52.46 and a 52 week high of $81.79. 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 company has a market capitalization of $28.17 billion, a P/E ratio of 28.09, a price-to-earnings-growth ratio of 2.49 and a beta of 0.37. The stock’s 50-day moving average price is $80.95 and its 200-day moving average price is $76.41.

Kellanova (NYSE:K) last released 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 company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 EPS. On average, equities research analysts predict that Kellanova will post 3.75 earnings per share for the current year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.79%. The ex-dividend date was Monday, December 2nd. Kellanova’s dividend payout ratio is currently 78.35%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a research report on Friday, November 1st. Finally, StockNews.com started coverage on Kellanova in a research note on Wednesday. They issued a “hold” rating on the stock. Fifteen analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.