Kellanova (NYSE:K) Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL decreased its holdings in Kellanova (NYSE:K) by 6.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 124,433 shares of the company’s stock after selling 8,200 shares during the period. Gamco Investors INC. ET AL’s holdings in Kellanova were worth $7,129,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bfsg LLC increased its holdings in shares of Kellanova by 64.5% during the 1st quarter. Bfsg LLC now owns 510 shares of the company’s stock worth $29,000 after buying an additional 200 shares during the last quarter. BNP Paribas acquired a new stake in shares of Kellanova during the 1st quarter worth approximately $30,000. Motco increased its holdings in shares of Kellanova by 757.6% during the 4th quarter. Motco now owns 566 shares of the company’s stock worth $32,000 after buying an additional 500 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Kellanova by 55.1% during the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after buying an additional 206 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings 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 buying an additional 428 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on K. Barclays cut their price target on shares of Kellanova from $64.00 to $61.00 and set an “equal weight” rating for the company in a report on Friday, July 19th. TD Cowen increased their price objective on shares of Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. DA Davidson increased their price objective on shares of Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. increased their price objective on shares of Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Kellanova from $62.00 to $60.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Thirteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $61.50.

Kellanova Stock Up 0.3 %

NYSE:K traded up $0.19 during midday trading on Friday, hitting $57.47. 1,805,259 shares of the company were exchanged, compared to its average volume of 1,663,620. The company has a fifty day simple moving average of $58.46 and a 200 day simple moving average of $57.09. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $67.81. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $19.65 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 2.09 and a beta of 0.34.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the business earned $1.10 EPS. Kellanova’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, equities analysts anticipate that Kellanova will post 3.61 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.57 per share. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a yield of 3.97%. Kellanova’s dividend payout ratio (DPR) is currently 83.90%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $60.92, for a total value of $4,739,576.00. Following the transaction, the insider now directly owns 51,764,438 shares in the company, valued at $3,153,489,562.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $60.92, for a total value of $4,739,576.00. Following the transaction, the insider now directly owns 51,764,438 shares in the company, valued at $3,153,489,562.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the transaction, the senior vice president now owns 26,191 shares in the company, valued at $1,572,769.55. The disclosure for this sale can be found here. Insiders have sold 865,600 shares of company stock worth $50,897,082 in the last ninety days. 1.80% of the stock is owned by corporate insiders.

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.