MBB Public Markets I LLC Invests $962,000 in Kellanova (NYSE:K)

MBB Public Markets I LLC purchased a new stake in Kellanova (NYSE:K) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 16,675 shares of the company’s stock, valued at approximately $962,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of K. Vanguard Group Inc. increased its holdings in Kellanova by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock valued at $1,797,525,000 after buying an additional 1,130,582 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Kellanova by 11.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock worth $150,909,000 after acquiring an additional 277,171 shares during the period. Yacktman Asset Management LP increased its stake in Kellanova by 0.5% in the 2nd quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock valued at $123,546,000 after purchasing an additional 10,510 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in Kellanova by 766.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after purchasing an additional 1,664,461 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in Kellanova by 3.0% in the second quarter. TD Asset Management Inc now owns 1,391,196 shares of the company’s stock valued at $80,244,000 after purchasing an additional 40,406 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on K shares. Barclays lifted their price target on Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. upped their price target on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada cut shares of Kellanova from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $76.00 to $83.50 in a research note on Thursday, August 15th. Piper Sandler upped their target price on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Company raised their price target on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Fourteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $74.32.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, September 30th. The shares were sold at an average price of $80.72, for a total transaction of $9,249,139.76. Following the transaction, the insider now owns 50,139,106 shares in the company, valued at approximately $4,047,228,636.32. The transaction was disclosed in a document filed 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 that occurred on Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total value of $6,272,236.00. Following the completion of the transaction, the insider now owns 50,597,438 shares in the company, valued at approximately $4,079,165,451.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $80.72, for a total transaction of $9,249,139.76. Following the sale, the insider now owns 50,139,106 shares in the company, valued at approximately $4,047,228,636.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,080,732 shares of company stock valued at $79,115,595. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Stock Performance

Shares of K stock opened at $80.71 on Tuesday. The firm has a market capitalization of $27.59 billion, a price-to-earnings ratio of 30.23, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. The company has a 50 day moving average price of $75.15 and a 200 day moving average price of $64.19. Kellanova has a one year low of $47.63 and a one year high of $81.00. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the prior year, the firm posted $1.25 EPS. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. Sell-side analysts anticipate that Kellanova will post 3.7 EPS for the current year.

Kellanova Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.57 per share. 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%. This is a boost from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s payout ratio is presently 85.39%.

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.