Brooklyn Investment Group Has $154,000 Stock Holdings in Kellanova $K

Brooklyn Investment Group lifted its stake in shares of Kellanova (NYSE:K) by 11.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,862 shares of the company’s stock after purchasing an additional 185 shares during the period. Brooklyn Investment Group’s holdings in Kellanova were worth $154,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of K. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Kellanova during the fourth quarter worth $857,000. MetLife Investment Management LLC raised its position in shares of Kellanova by 2.0% during the fourth quarter. MetLife Investment Management LLC now owns 71,041 shares of the company’s stock worth $5,752,000 after purchasing an additional 1,392 shares during the period. Hsbc Holdings PLC raised its position in shares of Kellanova by 15.6% during the fourth quarter. Hsbc Holdings PLC now owns 929,951 shares of the company’s stock worth $75,248,000 after purchasing an additional 125,600 shares during the period. Adage Capital Partners GP L.L.C. raised its position in Kellanova by 107.4% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,262,032 shares of the company’s stock valued at $102,187,000 after buying an additional 653,504 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. raised its position in Kellanova by 1.1% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 109,756 shares of the company’s stock valued at $8,887,000 after buying an additional 1,225 shares during the period. 83.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

K has been the topic of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on Kellanova in a research report on Wednesday. They set a “neutral” rating and a $83.50 price target on the stock. Citigroup raised Kellanova to a “neutral” rating and set a $83.50 price target on the stock in a research report on Thursday, May 29th. Finally, Wall Street Zen lowered Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Six analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $83.40.

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 dated Thursday, August 14th. The stock was sold at an average price of $80.07, for a total value of $9,174,660.81. Following the transaction, the insider directly owned 45,326,620 shares of the company’s stock, valued at $3,629,302,463.40. This represents a 0.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 1,145,830 shares of company stock valued at $91,810,775. Corporate insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

Shares of K stock opened at $80.0450 on Thursday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45. Kellanova has a fifty-two week low of $77.70 and a fifty-two week high of $83.22. The stock’s 50-day moving average is $79.70 and its two-hundred day moving average is $81.42. The firm has a market cap of $27.83 billion, a P/E ratio of 21.01, a PEG ratio of 4.96 and a beta of 0.27.

Kellanova (NYSE:K) last issued its earnings results on Thursday, July 31st. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.05). Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same period in the previous year, the company earned $1.01 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. Analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.58 dividend. This is a positive change from Kellanova’s previous quarterly dividend of $0.57. This represents a $2.32 annualized dividend and a yield of 2.9%. Kellanova’s dividend payout ratio is presently 59.84%.

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.