Kellanova (NYSE:K) Shares Purchased by Signaturefd LLC

Signaturefd LLC lifted its stake in Kellanova (NYSE:K) by 26.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,183 shares of the company’s stock after purchasing an additional 1,515 shares during the quarter. Signaturefd LLC’s holdings in Kellanova were worth $402,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Comerica Bank acquired a new stake in shares of Kellanova in the third quarter valued at approximately $4,974,000. Raymond James & Associates grew its position in Kellanova by 11.9% in the fourth quarter. Raymond James & Associates now owns 400,371 shares of the company’s stock worth $22,385,000 after acquiring an additional 42,656 shares during the period. Soltis Investment Advisors LLC grew its position in Kellanova by 25.7% in the third quarter. Soltis Investment Advisors LLC now owns 46,127 shares of the company’s stock worth $2,745,000 after acquiring an additional 9,434 shares during the period. Savoir Faire Capital Management L.P. purchased a new position in Kellanova in the third quarter worth approximately $3,248,000. Finally, CX Institutional grew its position in Kellanova by 52.9% in the fourth quarter. CX Institutional now owns 59,975 shares of the company’s stock worth $3,353,000 after acquiring an additional 20,752 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Trading Down 0.5 %

NYSE:K opened at $58.45 on Friday. The firm has a market cap of $19.98 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 2.25 and a beta of 0.40. The stock has a fifty day moving average price of $55.92 and a 200 day moving average price of $54.22. Kellanova has a 12-month low of $47.63 and a 12-month high of $72.30. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.07 billion. During the same period last year, the firm earned $0.94 earnings per share. Kellanova’s quarterly revenue was up .3% on a year-over-year basis. Sell-side analysts anticipate that Kellanova will post 3.57 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date was Thursday, February 29th. Kellanova’s dividend payout ratio is presently 81.45%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $53.62, for a total value of $4,171,636.00. Following the sale, the insider now directly owns 52,698,038 shares in the company, valued at $2,825,668,797.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 933,600 shares of company stock worth $51,632,748 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on K shares. Citigroup started coverage on Kellanova in a research report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Stifel Nicolaus raised their price target on Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. DA Davidson began coverage on Kellanova in a research report on Friday, March 1st. They set a “buy” rating and a $67.00 price target for the company. Finally, Barclays raised their price target on Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $62.27.

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.