Chicago Capital LLC Takes Position in Kellanova (NYSE:K)

Chicago Capital LLC bought a new stake in shares of Kellanova (NYSE:K) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,560 shares of the company’s stock, valued at approximately $207,000.

Other hedge funds have also recently made changes to their positions in the company. CVA Family Office LLC raised its position in Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after purchasing an additional 307 shares during the period. Blue Trust Inc. raised its position in Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares during the period. Family Firm Inc. purchased a new stake in Kellanova in the 2nd quarter worth about $29,000. BNP Paribas purchased a new stake in Kellanova in the 1st quarter worth about $30,000. Finally, Newbridge Financial Services Group Inc. raised its position in Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares during the period. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

K has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on shares of Kellanova in a research report on Saturday. They issued a “hold” rating on the stock. Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. upped their target price on shares of Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $76.00 to $83.50 in a research note on Thursday, August 15th. Fifteen research 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, the company currently has an average rating of “Hold” and an average target price of $74.32.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $57.23, for a total value of $4,452,494.00. Following the completion of the sale, the insider now directly owns 50,908,638 shares in the company, valued at $2,913,501,352.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $80.65, for a total value of $9,241,118.95. Following the completion of the transaction, the insider now owns 50,368,272 shares of the company’s stock, valued at approximately $4,062,201,136.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $57.23, for a total transaction of $4,452,494.00. Following the completion of the transaction, the insider now directly owns 50,908,638 shares of the company’s stock, valued at approximately $2,913,501,352.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,076,498 shares of company stock worth $84,360,375 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Kellanova Price Performance

NYSE K opened at $81.05 on Monday. 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 firm’s 50 day moving average price is $80.19 and its 200-day moving average price is $66.65. Kellanova has a 52-week low of $49.28 and a 52-week high of $81.21. The company has a market cap of $27.71 billion, a PE ratio of 30.36, a P/E/G ratio of 2.59 and a beta of 0.39.

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

Kellanova Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.81%. This is an increase from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, September 3rd. Kellanova’s dividend payout ratio (DPR) is 85.39%.

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.