Minot DeBlois Advisors LLC Buys Shares of 516 Kellanova (NYSE:K)

Minot DeBlois Advisors LLC purchased a new position in shares of Kellanova (NYSE:K) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 516 shares of the company’s stock, valued at approximately $42,000.

A number of other large investors have also made changes to their positions in the stock. Moore Capital Management LP raised its stake in shares of Kellanova by 23.5% during the 4th quarter. Moore Capital Management LP now owns 105,000 shares of the company’s stock worth $8,502,000 after buying an additional 20,000 shares during the last quarter. Hudson Bay Capital Management LP grew its position in shares of Kellanova by 53.8% in the fourth quarter. Hudson Bay Capital Management LP now owns 1,000,000 shares of the company’s stock valued at $80,970,000 after purchasing an additional 350,000 shares during the last quarter. Humankind Investments LLC increased its stake in shares of Kellanova by 3.9% during the 4th quarter. Humankind Investments LLC now owns 5,117 shares of the company’s stock worth $414,000 after purchasing an additional 191 shares in the last quarter. Governors Lane LP raised its position in shares of Kellanova by 35.9% during the 4th quarter. Governors Lane LP now owns 491,708 shares of the company’s stock worth $39,814,000 after purchasing an additional 129,908 shares during the last quarter. Finally, Fort Baker Capital Management LP grew its holdings in Kellanova by 178.7% during the 4th quarter. Fort Baker Capital Management LP now owns 535,479 shares of the company’s stock valued at $43,358,000 after buying an additional 343,315 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Down 0.2%

Shares of K opened at $82.15 on Wednesday. The firm has a market cap of $28.50 billion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The company’s fifty day moving average is $82.39 and its two-hundred day moving average is $81.72. Kellanova has a fifty-two week low of $55.96 and a fifty-two week high of $83.22.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Kellanova’s revenue was down 3.7% on a year-over-year basis. During the same period last year, the firm posted $1.01 EPS. Analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.78%. Kellanova’s payout ratio is 57.58%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on K. StockNews.com cut Kellanova from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Thirteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Kellanova has an average rating of “Hold” and a consensus target price of $79.41.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $82.25, for a total value of $9,424,451.75. Following the completion of the transaction, the insider now directly owns 48,076,612 shares in the company, valued at approximately $3,954,301,337. This represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 1,260,413 shares of company stock valued at $103,839,698 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

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.