Brooklyn Investment Group Raises Stock Position in Kellanova (NYSE:K)

Brooklyn Investment Group grew its holdings in shares of Kellanova (NYSE:K) by 26.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,677 shares of the company’s stock after acquiring an additional 352 shares during the quarter. Brooklyn Investment Group’s holdings in Kellanova were worth $136,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. CVA Family Office LLC lifted its position in Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after buying an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in shares of 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 acquiring an additional 200 shares during the last quarter. MCF Advisors LLC boosted its stake in shares of Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after purchasing an additional 137 shares during the period. Capital Advisors Ltd. LLC raised its position in Kellanova by 41.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after purchasing an additional 158 shares during the period. Finally, Mather Group LLC. raised its position in Kellanova by 71.3% in the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after purchasing an additional 256 shares during the period. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Up 0.2 %

NYSE:K opened at $81.73 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The firm has a market cap of $28.17 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 2.49 and a beta of 0.37. The company has a 50-day moving average of $80.95 and a 200 day moving average of $76.41. Kellanova has a 1-year low of $52.46 and a 1-year high of $81.79.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 EPS. As a group, research analysts anticipate that Kellanova will post 3.75 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the completion of the transaction, the insider now owns 49,680,774 shares in the company, valued at $4,012,219,308.24. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 1,031,247 shares of company stock worth $83,509,236 in the last three months. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on K. Argus cut Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research report on Friday, November 1st. Finally, StockNews.com initiated coverage on Kellanova in a research report on Wednesday. They set a “hold” rating for the company. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $76.35.

Kellanova 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.