Summit Trail Advisors LLC Buys Shares of 3,554 Kellanova (NYSE:K)

Summit Trail Advisors LLC bought a new stake in Kellanova (NYSE:K) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,554 shares of the company’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of K. Blue Trust Inc. boosted its stake in shares of Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after acquiring an additional 170 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Kellanova during the 2nd quarter worth about $29,000. BNP Paribas bought a new stake in shares of Kellanova during the 1st quarter worth about $30,000. Ridgewood Investments LLC bought a new stake in shares of Kellanova during the 2nd quarter worth about $39,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Kellanova by 139.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 736 shares of the company’s stock worth $41,000 after acquiring an additional 428 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on K. Bank of America upgraded Kellanova from a “neutral” rating to a “buy” rating and upped their price target for the stock from $62.00 to $70.00 in a research note on Friday, August 2nd. The Goldman Sachs Group initiated coverage on Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective for the company. Royal Bank of Canada cut Kellanova from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. DA Davidson cut Kellanova from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Finally, Barclays boosted their price objective on Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Fourteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Kellanova has an average rating of “Hold” and an average price target of $74.32.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $56.14, for a total value of $4,367,692.00. Following the completion of the transaction, the insider now directly owns 51,142,038 shares of the company’s stock, valued at approximately $2,871,114,013.32. The sale was disclosed in a legal filing with the SEC, 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 transaction of $9,241,118.95. Following the sale, the insider now directly owns 50,368,272 shares in the company, valued at approximately $4,062,201,136.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $56.14, for a total value of $4,367,692.00. Following the sale, the insider now owns 51,142,038 shares in the company, valued at $2,871,114,013.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,043,949 shares of company stock valued at $74,350,847. Corporate insiders own 1.80% of the company’s stock.

Kellanova Trading Up 0.1 %

Kellanova stock opened at $80.67 on Wednesday. The business has a 50 day moving average price of $73.35 and a two-hundred day moving average price of $63.44. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. The stock has a market cap of $27.58 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 2.57 and a beta of 0.39. Kellanova has a 12 month low of $47.63 and a 12 month high of $80.97.

Kellanova (NYSE:K) last issued its earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (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 analysts’ expectations of $3.15 billion. During the same period in the prior year, the firm posted $1.25 EPS. Kellanova’s quarterly revenue was down 4.7% compared to the same quarter last year. As a group, equities analysts forecast that Kellanova will post 3.7 EPS for the current year.

Kellanova Increases Dividend

The business 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. The ex-dividend date was Tuesday, September 3rd. This is a boost from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.83%. Kellanova’s dividend payout ratio is presently 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.