Gateway Investment Advisers LLC Has $1.51 Million Holdings in Kellanova (NYSE:K)

Gateway Investment Advisers LLC lessened its position in shares of Kellanova (NYSE:K) by 22.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,750 shares of the company’s stock after selling 5,458 shares during the period. Gateway Investment Advisers LLC’s holdings in Kellanova were worth $1,513,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. V Square Quantitative Management LLC boosted its stake in Kellanova by 22.3% during the fourth quarter. V Square Quantitative Management LLC now owns 6,243 shares of the company’s stock worth $349,000 after acquiring an additional 1,137 shares in the last quarter. Integrated Advisors Network LLC raised its stake in Kellanova by 66.0% during the 4th quarter. Integrated Advisors Network LLC now owns 7,539 shares of the company’s stock worth $422,000 after buying an additional 2,997 shares during the period. Syon Capital LLC bought a new position in Kellanova in the fourth quarter worth approximately $327,000. Fisher Asset Management LLC grew its stake in Kellanova by 0.9% in the fourth quarter. Fisher Asset Management LLC now owns 63,795 shares of the company’s stock valued at $3,567,000 after acquiring an additional 549 shares during the period. Finally, SageView Advisory Group LLC acquired a new position in shares of Kellanova during the fourth quarter worth approximately $225,000. 83.87% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $56.19, for a total transaction of $4,371,582.00. Following the sale, the insider now owns 51,064,238 shares of the company’s stock, valued at $2,869,299,533.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $80.65, for a total value of $9,241,118.95. Following the sale, the insider now directly owns 50,368,272 shares of the company’s stock, valued at approximately $4,062,201,136.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $56.19, for a total transaction of $4,371,582.00. Following the completion of the transaction, the insider now owns 51,064,238 shares of the company’s stock, valued at $2,869,299,533.22. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,117,515 shares of company stock worth $83,979,855 over the last quarter. 1.80% of the stock is currently owned by company insiders.

Kellanova Stock Up 0.0 %

K opened at $80.55 on Friday. The company’s 50-day moving average price is $79.23 and its two-hundred day moving average price is $65.74. 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 has a twelve month low of $47.63 and a twelve month high of $81.00. The stock has a market cap of $27.54 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.11. The business had revenue of $3.19 billion during 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 was down 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.25 earnings per share. As a group, equities analysts expect that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a yield of 2.83%. Kellanova’s dividend payout ratio is 85.39%.

Wall Street Analyst Weigh In

A number of brokerages have commented on K. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research note on Thursday, August 15th. DA Davidson cut shares of Kellanova from a “buy” rating to a “neutral” rating and raised their price target for the company from $80.00 to $83.50 in a research report on Monday, August 26th. The Goldman Sachs Group assumed coverage on Kellanova in a research note on Monday, August 12th. They set a “neutral” rating and a $75.00 price target for the company. Wells Fargo & Company increased their price objective on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Finally, StockNews.com began coverage on Kellanova in a research report on Friday. They set a “hold” rating on the stock. Fifteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $74.32.

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.