Evergreen Capital Management LLC Buys Shares of 4,159 Kellanova (NYSE:K)

Evergreen Capital Management LLC bought a new stake in shares of Kellanova (NYSE:K) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 4,159 shares of the company’s stock, valued at approximately $240,000.

Several other institutional investors have also recently added to or reduced their stakes in K. Blue Trust Inc. grew its position in shares of Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after acquiring an additional 170 shares during the last quarter. Family Firm Inc. bought a new position in shares of Kellanova during the second quarter worth about $29,000. BNP Paribas bought a new position in shares of Kellanova during the first quarter worth about $30,000. Ridgewood Investments LLC bought a new position in shares of Kellanova during the second quarter worth about $39,000. Finally, YHB Investment Advisors Inc. bought a new position in shares of Kellanova during the first quarter worth about $42,000. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Up 0.1 %

Shares of NYSE:K opened at $80.76 on Friday. The firm has a 50 day simple moving average of $74.25 and a 200 day simple moving average of $63.74. Kellanova has a 52 week low of $47.63 and a 52 week high of $80.97. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. The company has a market cap of $27.61 billion, a PE ratio of 30.25, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K) last issued its earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. Kellanova’s revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.25 earnings per share. As a group, research analysts expect that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were issued a $0.57 dividend. This is an increase from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.82%. Kellanova’s dividend payout ratio is currently 85.39%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on K shares. Stifel Nicolaus upped their price target on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Evercore ISI raised shares of Kellanova to a “hold” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on shares of Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. Finally, StockNews.com initiated coverage on shares of Kellanova in a report on Wednesday. They issued a “hold” rating for the company. Fourteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $74.32.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Monday, July 15th. The shares were sold at an average price of $56.19, for a total transaction of $4,371,582.00. Following the completion of the sale, the insider now owns 51,064,238 shares of the company’s stock, valued at approximately $2,869,299,533.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $80.65, for a total value of $9,241,118.95. Following the transaction, the insider now owns 50,368,272 shares in the company, valued at $4,062,201,136.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $56.19, for a total transaction of $4,371,582.00. Following the completion of the sale, the insider now owns 51,064,238 shares of the company’s stock, valued at $2,869,299,533.22. The disclosure for this sale can be found here. Insiders sold 966,149 shares of company stock valued at $69,866,455 over the last three months. 1.80% of the stock is owned by corporate insiders.

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.