GAMMA Investing LLC Purchases 623 Shares of Kellanova (NYSE:K)

GAMMA Investing LLC raised its stake in Kellanova (NYSE:K) by 21.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,553 shares of the company’s stock after buying an additional 623 shares during the period. GAMMA Investing LLC’s holdings in Kellanova were worth $204,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Intech Investment Management LLC increased its holdings in shares of Kellanova by 10.1% in the 4th quarter. Intech Investment Management LLC now owns 263,880 shares of the company’s stock worth $14,754,000 after buying an additional 24,124 shares during the last quarter. Jump Financial LLC bought a new position in shares of Kellanova in the 4th quarter worth $8,178,000. International Assets Investment Management LLC grew its holdings in shares of Kellanova by 133.4% during the 4th quarter. International Assets Investment Management LLC now owns 60,885 shares of the company’s stock valued at $3,404,000 after purchasing an additional 34,800 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Kellanova during the 4th quarter valued at $889,000. Finally, Comerica Bank bought a new position in shares of Kellanova during the 3rd quarter valued at $4,974,000. Institutional investors own 83.87% of the company’s stock.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.34, for a total transaction of $4,461,052.00. Following the completion of the sale, the insider now directly owns 52,153,438 shares in the company, valued at approximately $2,990,478,134.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.34, for a total transaction of $4,461,052.00. Following the completion of the sale, the insider now directly owns 52,153,438 shares in the company, valued at approximately $2,990,478,134.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the sale, the senior vice president now owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The disclosure for this sale can be found here. Insiders sold a total of 787,800 shares of company stock worth $46,428,250 in the last three months. 1.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. DA Davidson increased their target price on shares of Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Barclays increased their target price on shares of Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, May 6th. TD Cowen increased their target price on shares of Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $61.85.

Kellanova Trading Down 1.8 %

NYSE:K opened at $57.72 on Friday. The company has a 50-day moving average price of $59.51 and a 200-day moving average price of $56.66. Kellanova has a 12 month low of $47.63 and a 12 month high of $68.69. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34. The stock has a market cap of $19.73 billion, a price-to-earnings ratio of 21.62, a P/E/G ratio of 2.09 and a beta of 0.35.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. Kellanova’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period last year, the business earned $1.10 EPS. Equities analysts predict that Kellanova will post 3.61 EPS for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Monday, June 3rd were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.88%. Kellanova’s payout ratio is 83.90%.

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.