Diversified Trust Co Has $4.88 Million Stock Position in Kellanova (NYSE:K)

Diversified Trust Co lifted its holdings in shares of Kellanova (NYSE:K) by 61.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 85,120 shares of the company’s stock after purchasing an additional 32,361 shares during the quarter. Diversified Trust Co’s holdings in Kellanova were worth $4,877,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Intech Investment Management LLC grew its position in 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 purchasing an additional 24,124 shares during the last quarter. Jump Financial LLC bought a new position in shares of Kellanova during the 4th quarter worth about $8,178,000. International Assets Investment Management LLC lifted 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 worth $3,404,000 after acquiring an additional 34,800 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of Kellanova during the 4th quarter worth about $889,000. Finally, Banque Cantonale Vaudoise lifted its holdings in Kellanova by 35.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 79,701 shares of the company’s stock valued at $4,566,000 after purchasing an additional 20,866 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Stock Down 1.0 %

K traded down $0.58 during trading on Monday, reaching $57.10. The company had a trading volume of 477,915 shares, compared to its average volume of 2,920,852. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. Kellanova has a 12 month low of $47.63 and a 12 month high of $68.69. The business’s fifty day moving average price is $59.71 and its 200 day moving average price is $56.86. The company has a market cap of $19.52 billion, a P/E ratio of 21.60, a PEG ratio of 2.04 and a beta of 0.35.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $3.20 billion for 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%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 earnings per share. Equities analysts anticipate that Kellanova will post 3.62 EPS for the current year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.92%. The ex-dividend date was Monday, June 3rd. Kellanova’s dividend payout ratio (DPR) is currently 83.90%.

Insiders Place Their Bets

In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of the company’s stock in a transaction on 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 directly owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $57.46, for a total value of $4,470,388.00. Following the transaction, the insider now directly owns 52,075,638 shares in the company, valued at $2,992,266,159.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Nicolas Amaya sold 9,800 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the transaction, the senior vice president now owns 26,191 shares in the company, valued at $1,572,769.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 865,600 shares of company stock valued at $50,941,428. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Barclays raised their price objective on shares of Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research report on Monday, May 6th. DA Davidson raised their price objective on shares of Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, TD Cowen raised their price objective on shares of Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $61.83.

Kellanova Company 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.