Everence Capital Management Inc. Buys 6,850 Shares of Kellanova (NYSE:K)

Everence Capital Management Inc. grew its holdings in Kellanova (NYSE:K) by 114.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,810 shares of the company’s stock after purchasing an additional 6,850 shares during the period. Everence Capital Management Inc.’s holdings in Kellanova were worth $716,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of K. Cantor Fitzgerald Investment Advisor L.P lifted its stake in shares of Kellanova by 95.3% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 424,951 shares of the company’s stock valued at $27,405,000 after buying an additional 207,392 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Kellanova by 16.7% during the 1st quarter. HighTower Advisors LLC now owns 18,121 shares of the company’s stock valued at $1,167,000 after buying an additional 2,590 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Kellanova by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,232 shares of the company’s stock valued at $2,208,000 after buying an additional 2,119 shares in the last quarter. Raymond James Trust N.A. lifted its stake in shares of Kellanova by 46.9% during the 1st quarter. Raymond James Trust N.A. now owns 8,653 shares of the company’s stock valued at $558,000 after buying an additional 2,764 shares in the last quarter. Finally, Cibc World Market Inc. lifted its stake in shares of Kellanova by 6.4% during the 1st quarter. Cibc World Market Inc. now owns 38,670 shares of the company’s stock valued at $2,494,000 after buying an additional 2,313 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $54.68, for a total value of $4,254,104.00. Following the sale, the insider now owns 52,775,838 shares of the company’s stock, valued at approximately $2,885,782,821.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 933,600 shares of company stock valued at $51,308,322 in the last quarter. Insiders own 1.80% of the company’s stock.

Kellanova Price Performance

K stock opened at $56.07 on Thursday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.41 and a current ratio of 0.66. Kellanova has a 52 week low of $47.63 and a 52 week high of $72.30. The firm’s fifty day moving average is $55.50 and its 200 day moving average is $53.99. The firm has a market cap of $19.16 billion, a P/E ratio of 20.39, a P/E/G ratio of 2.07 and a beta of 0.40.

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

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date was Thursday, February 29th. Kellanova’s dividend payout ratio (DPR) is presently 81.45%.

Analyst Ratings Changes

Several analysts have issued reports on K shares. Barclays increased their target price on shares of Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. Citigroup started coverage on shares of Kellanova in a research note on Thursday, February 1st. They issued a “neutral” rating and a $57.00 target price on the stock. Piper Sandler increased their target price on shares of Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Stifel Nicolaus increased their target price on shares of Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Finally, Wells Fargo & Company increased their target price on shares of Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research note 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $62.27.

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.