GAMMA Investing LLC Takes Position in Kellanova (NYSE:K)

GAMMA Investing LLC purchased a new stake in shares of Kellanova (NYSE:K) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 2,930 shares of the company’s stock, valued at approximately $160,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in Kellanova by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,559,415 shares of the company’s stock valued at $330,841,000 after acquiring an additional 200,870 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Kellanova by 29.4% in the 3rd quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock valued at $296,971,000 after purchasing an additional 1,132,485 shares during the period. Van ECK Associates Corp increased its holdings in shares of Kellanova by 27.4% in the 3rd quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock valued at $291,061,000 after purchasing an additional 1,051,922 shares during the period. Northern Trust Corp increased its holdings in shares of Kellanova by 8.7% in the 3rd quarter. Northern Trust Corp now owns 4,116,944 shares of the company’s stock valued at $244,999,000 after purchasing an additional 328,658 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Kellanova by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,474,763 shares of the company’s stock valued at $147,273,000 after purchasing an additional 61,797 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Friday, February 9th. The stock was sold at an average price of $53.62, for a total transaction of $4,171,636.00. Following the completion of the transaction, the insider now directly owns 52,698,038 shares of the company’s stock, valued at $2,825,668,797.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 933,600 shares of company stock valued at $51,632,748. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus upped their target price on Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Wells Fargo & Company upped their target price on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Citigroup assumed coverage on Kellanova in a report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 target price on the stock. Barclays upped their target price on Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. Finally, JPMorgan Chase & Co. increased their price objective on Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $62.27.

Kellanova Stock Down 1.2 %

Shares of K stock opened at $57.73 on Friday. The stock has a market cap of $19.73 billion, a P/E ratio of 20.99, a price-to-earnings-growth ratio of 2.24 and a beta of 0.40. Kellanova has a one year low of $47.63 and a one year high of $72.30. The stock has a fifty day moving average price of $55.96 and a 200 day moving average price of $54.27. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41.

Kellanova (NYSE:K) last issued its earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. Kellanova’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the business earned $0.94 earnings per share. Analysts predict that Kellanova will post 3.57 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.88%. Kellanova’s payout ratio is presently 81.45%.

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.