Graypoint LLC Acquires 481 Shares of Kellanova (NYSE:K)

Graypoint LLC lifted its holdings in Kellanova (NYSE:K) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,243 shares of the company’s stock after purchasing an additional 481 shares during the period. Graypoint LLC’s holdings in Kellanova were worth $910,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in K. D. E. Shaw & Co. Inc. increased its stake in shares of Kellanova by 766.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after purchasing an additional 1,664,461 shares during the period. Maverick Capital Ltd. acquired a new stake in Kellanova during the second quarter worth about $88,065,000. Westchester Capital Management LLC acquired a new stake in Kellanova during the third quarter worth about $107,795,000. Point72 Asset Management L.P. acquired a new stake in Kellanova during the second quarter worth about $63,585,000. Finally, Barclays PLC grew its position in Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after buying an additional 1,033,383 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Kellanova 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 transaction of $9,276,639.68. Following the completion of the sale, the insider now owns 49,795,357 shares in the company, valued at approximately $4,031,432,102.72. The trade was a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 1,031,247 shares of company stock worth $83,418,716 in the last quarter. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Kellanova Stock Performance

NYSE:K opened at $81.54 on Friday. Kellanova has a 1 year low of $52.46 and a 1 year high of $81.58. The firm has a 50 day moving average of $80.89 and a 200-day moving average of $75.59. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $28.11 billion, a P/E ratio of 28.02, a price-to-earnings-growth ratio of 2.59 and a beta of 0.37.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. Kellanova’s quarterly revenue was down .7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

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.