Kellanova (NYSE:K) Shares Bought by Graypoint LLC

Graypoint LLC increased its stake in shares of Kellanova (NYSE:K) by 14.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 12,882 shares of the company’s stock after purchasing an additional 1,639 shares during the period. Graypoint LLC’s holdings in Kellanova were worth $1,063,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Kellanova in the 4th quarter worth about $285,126,000. Franklin Resources Inc. increased its holdings in shares of Kellanova by 869.5% during the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company’s stock valued at $208,826,000 after acquiring an additional 2,313,047 shares during the last quarter. FIL Ltd boosted its stake in Kellanova by 182.3% during the 4th quarter. FIL Ltd now owns 2,388,000 shares of the company’s stock valued at $193,356,000 after purchasing an additional 1,542,000 shares during the period. Tudor Investment Corp ET AL lifted its position in shares of Kellanova by 136.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 1,745,788 shares of the company’s stock worth $141,356,000 after acquiring an additional 1,006,100 shares during the period. Finally, TIG Advisors LLC lifted its position in shares of Kellanova by 76.5% in the 4th quarter. TIG Advisors LLC now owns 1,878,275 shares of the company’s stock worth $152,084,000 after acquiring an additional 813,901 shares during the period. 83.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Citigroup raised Kellanova to a “neutral” rating and set a $83.50 price target for the company in a report on Thursday, May 29th. Wall Street Zen lowered Kellanova from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Fourteen 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.com, the stock has an average rating of “Hold” and a consensus target price of $79.75.

Insider Transactions 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 Monday, July 7th. The shares were sold at an average price of $79.68, for a total transaction of $9,129,973.44. Following the transaction, the insider directly owned 45,899,535 shares of the company’s stock, valued at $3,657,274,948.80. This represents a 0.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 1,374,996 shares of company stock valued at $111,466,342. Insiders own 1.80% of the company’s stock.

Kellanova Stock Up 0.3%

NYSE:K opened at $79.99 on Friday. The company’s 50 day moving average is $80.76 and its two-hundred day moving average is $81.67. The company has a market cap of $27.75 billion, a PE ratio of 20.20, a P/E/G ratio of 4.24 and a beta of 0.28. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.25. Kellanova has a twelve month low of $56.37 and a twelve month high of $83.22.

Kellanova (NYSE:K) last issued its earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 10.93% and a return on equity of 34.80%. Kellanova’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the company earned $1.01 earnings per share. Analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.85%. Kellanova’s dividend payout ratio (DPR) is 57.58%.

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.