Valley Brook Capital Group Inc. Takes $230,000 Position in Kellanova (NYSE:K)

Valley Brook Capital Group Inc. purchased a new position in shares of Kellanova (NYSE:K) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,850 shares of the company’s stock, valued at approximately $230,000.

A number of other institutional investors and hedge funds have also bought and sold shares of K. Swedbank AB lifted its position in shares of Kellanova by 20.5% during the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after buying an additional 46,450 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Kellanova by 4.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock worth $14,705,000 after acquiring an additional 10,676 shares during the period. SG Americas Securities LLC boosted its position in Kellanova by 498.7% in the second quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock worth $15,049,000 after purchasing an additional 217,320 shares during the last quarter. M&G Plc bought a new position in Kellanova in the 1st quarter valued at $9,346,000. Finally, Atria Investments Inc purchased a new stake in shares of Kellanova during the 1st quarter valued at $1,003,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $80.76, for a total value of $9,253,723.08. Following the transaction, the insider now directly owns 49,680,774 shares in the company, valued at $4,012,219,308.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova 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 sale, the insider now directly owns 49,680,774 shares in the company, valued at $4,012,219,308.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $80.32, for a total transaction of $6,248,896.00. Following the completion of the transaction, the insider now directly owns 50,675,238 shares in the company, valued at $4,070,235,116.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,150,064 shares of company stock valued at $92,680,265. 1.80% of the stock is currently owned by company insiders.

Kellanova Price Performance

K traded up $0.08 during trading on Thursday, reaching $81.02. 74,876 shares of the company were exchanged, compared to its average volume of 3,060,786. Kellanova has a 12-month low of $51.02 and a 12-month high of $81.26. The company’s 50-day moving average is $80.64 and its two-hundred day moving average is $68.87. 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 company has a market cap of $27.93 billion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion for 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 for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 earnings per share. Research analysts forecast that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.81%. The ex-dividend date is Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on K. Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research report on Thursday, August 15th. Stifel Nicolaus raised their price target on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. The Goldman Sachs Group initiated coverage on Kellanova in a research note on Monday, August 12th. They issued a “neutral” rating and a $75.00 price objective on the stock. Finally, StockNews.com began coverage on Kellanova in a research report on Monday. They issued a “hold” rating for the company. Sixteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $74.96.

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.