Beese Fulmer Investment Management Inc. Invests $238,000 in Kellanova (NYSE:K)

Beese Fulmer Investment Management Inc. acquired a new stake in Kellanova (NYSE:K) during the third quarter, HoldingsChannel reports. The fund acquired 2,950 shares of the company’s stock, valued at approximately $238,000.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. increased its position in Kellanova by 57.2% during 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. acquired a new position in Kellanova during the second quarter worth $29,000. CVA Family Office LLC grew its holdings in Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after acquiring an additional 307 shares during the period. BNP Paribas acquired a new stake in Kellanova in the first quarter valued at $30,000. Finally, Newbridge Financial Services Group Inc. lifted its holdings in Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after acquiring an additional 200 shares during the period. 83.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on K shares. StockNews.com initiated coverage on shares of Kellanova in a research note on Saturday, October 19th. They issued a “hold” rating for the company. JPMorgan Chase & Co. upped their price target on Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Bank of America raised Kellanova from a “neutral” rating to a “buy” rating and lifted 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. Finally, Stifel Nicolaus upped their target price on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a report on Monday, August 12th. Fifteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Kellanova currently has an average rating of “Hold” and an average target price of $74.32.

Kellanova Price Performance

Shares of Kellanova stock opened at $81.02 on Friday. The stock has a market capitalization of $27.70 billion, a P/E ratio of 30.34, a PEG ratio of 2.59 and a beta of 0.39. Kellanova has a twelve month low of $49.79 and a twelve month high of $81.26. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46. The business’s fifty day moving average price is $80.58 and its 200 day moving average price is $67.15.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The firm 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 company earned $1.25 EPS. The firm’s revenue was down 4.7% on a year-over-year basis. As a group, research analysts anticipate that Kellanova will post 3.7 earnings per share for the current year.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the transaction, the insider now directly owns 50,482,855 shares in the company, valued at approximately $4,051,249,113.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $74.01, for a total transaction of $5,757,978.00. Following the sale, the insider now directly owns 50,830,838 shares in the company, valued at $3,761,990,320.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the sale, the insider now directly owns 50,482,855 shares of the company’s stock, valued at $4,051,249,113.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,191,081 shares of company stock worth $93,637,014 over the last 90 days. Company insiders own 1.80% of the company’s stock.

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.