41,545 Shares in Kellanova (NYSE:K) Purchased by Clark & Stuart Inc

Clark & Stuart Inc bought a new stake in Kellanova (NYSE:K) during the 4th quarter, Holdings Channel reports. The firm bought 41,545 shares of the company’s stock, valued at approximately $3,364,000. Kellanova accounts for about 2.5% of Clark & Stuart Inc’s portfolio, making the stock its 18th largest holding.

Other hedge funds have also made changes to their positions in the company. Choreo LLC increased its position in shares of Kellanova by 101.2% during the 2nd quarter. Choreo LLC now owns 7,966 shares of the company’s stock worth $453,000 after purchasing an additional 4,007 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Kellanova by 28.5% during the second quarter. Daiwa Securities Group Inc. now owns 34,327 shares of the company’s stock worth $1,980,000 after buying an additional 7,605 shares during the period. American Century Companies Inc. increased its position in shares of Kellanova by 14.7% during the second quarter. American Century Companies Inc. now owns 36,893 shares of the company’s stock valued at $2,128,000 after acquiring an additional 4,737 shares during the last quarter. Qsemble Capital Management LP purchased a new stake in shares of Kellanova in the 2nd quarter valued at approximately $288,000. Finally, Meeder Advisory Services Inc. acquired a new position in shares of Kellanova in the 2nd quarter worth approximately $222,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

NYSE K opened at $81.54 on Monday. Kellanova has a 52 week low of $52.46 and a 52 week high of $81.58. The firm has a 50 day moving average of $80.89 and a two-hundred day moving average of $75.83. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $28.11 billion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 2.59 and a beta of 0.37.

Kellanova (NYSE:K) last issued its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate 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 previous year, the firm posted $1.03 earnings per share. As a group, research analysts expect that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were issued a $0.57 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.80%. Kellanova’s payout ratio is currently 78.35%.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.96, for a total value of $9,276,639.68. Following the completion of the transaction, the insider now owns 49,795,357 shares in the company, valued at approximately $4,031,432,102.72. This represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 916,664 shares of company stock valued at $74,179,888. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Friday, November 1st. StockNews.com started coverage on Kellanova in a research note on Tuesday, January 7th. They issued a “hold” rating for the company. Finally, Argus lowered Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Fifteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Kellanova has a consensus rating of “Hold” and a consensus target price 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.