Clarius Group LLC Takes Position in Kellanova (NYSE:K)

Clarius Group LLC bought a new stake in shares of Kellanova (NYSE:K) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,626 shares of the company’s stock, valued at approximately $212,000.

A number of other large investors have also recently made changes to their positions in the stock. Northstar Group Inc. bought a new stake in shares of Kellanova in the third quarter valued at about $228,000. Perpetual Ltd bought a new stake in shares of Kellanova in the third quarter valued at about $210,000. CWM LLC raised its holdings in shares of Kellanova by 20.8% in the third quarter. CWM LLC now owns 12,426 shares of the company’s stock valued at $1,003,000 after acquiring an additional 2,140 shares in the last quarter. Atomi Financial Group Inc. bought a new stake in shares of Kellanova in the third quarter valued at about $257,000. Finally, Mather Group LLC. raised its holdings in shares of Kellanova by 71.3% in the third quarter. Mather Group LLC. now owns 615 shares of the company’s stock valued at $50,000 after acquiring an additional 256 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Price Performance

Shares of NYSE K opened at $80.55 on Friday. The business’s 50 day moving average price is $79.23 and its 200 day moving average price is $65.74. The firm has a market cap of $27.54 billion, a P/E ratio of 30.17, a P/E/G ratio of 2.59 and a beta of 0.39. Kellanova has a 52 week low of $47.63 and a 52 week high of $81.00. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46.

Kellanova (NYSE:K) last issued its earnings results on Thursday, August 1st. The company reported $1.01 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 analyst estimates of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. Kellanova’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 earnings per share. On average, sell-side analysts expect that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were given a $0.57 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s dividend payout ratio is currently 85.39%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on K shares. Royal Bank of Canada downgraded Kellanova from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $76.00 to $83.50 in a report on Thursday, August 15th. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a report on Friday, August 2nd. Barclays boosted their target price on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $62.00 to $70.00 in a report on Friday, August 2nd. Fifteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $74.32.

Insider Activity at Kellanova

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 Monday, July 15th. The stock was sold at an average price of $56.19, for a total value of $4,371,582.00. Following the sale, the insider now owns 51,064,238 shares in the company, valued at approximately $2,869,299,533.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $80.72, for a total value 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $56.19, for a total value of $4,371,582.00. Following the completion of the sale, the insider now owns 51,064,238 shares in the company, valued at approximately $2,869,299,533.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,117,515 shares of company stock worth $83,979,855 over the last quarter. Insiders own 1.80% of the company’s stock.

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.