Picton Mahoney Asset Management Acquires Shares of 8,103 Kellanova (NYSE:K)

Picton Mahoney Asset Management bought a new stake in Kellanova (NYSE:K) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 8,103 shares of the company’s stock, valued at approximately $452,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Oakworth Capital Inc. boosted its position in Kellanova by 491.3% in the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock valued at $28,000 after buying an additional 393 shares in the last quarter. Baker Avenue Asset Management LP boosted its holdings in shares of Kellanova by 205.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after acquiring an additional 341 shares in the last quarter. Blue Trust Inc. grew its position in Kellanova by 55.1% during the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after acquiring an additional 206 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in Kellanova by 339.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock worth $67,000 after purchasing an additional 928 shares in the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd raised its position in Kellanova by 1,450.0% in the third quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,550 shares of the company’s stock valued at $92,000 after purchasing an additional 1,450 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wells Fargo & Company lifted their target price on Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. Stifel Nicolaus lifted their price objective on shares of Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Barclays increased their target price on shares of Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Monday. TD Cowen increased their price objective on shares of Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Finally, DA Davidson initiated coverage on Kellanova in a report on Friday, March 1st. They issued a “buy” rating and a $67.00 target price on the stock. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $61.46.

Kellanova Trading Up 1.1 %

Shares of Kellanova stock opened at $62.33 on Thursday. The company’s 50-day moving average price is $56.42 and its 200-day moving average price is $54.80. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34. The company has a market cap of $21.31 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 2.32 and a beta of 0.39. Kellanova has a 12-month low of $47.63 and a 12-month high of $71.53.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the company earned $1.10 earnings per share. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. On average, equities analysts expect that Kellanova will post 3.58 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be paid a $0.56 dividend. The ex-dividend date is Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.59%. Kellanova’s dividend payout ratio is presently 83.90%.

Insider Buying and Selling at Kellanova

In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $60.05, for a total value of $588,490.00. Following the completion of the sale, the senior vice president now owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $60.05, for a total value of $588,490.00. Following the completion of the sale, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $53.67, for a total value of $4,175,526.00. Following the transaction, the insider now directly owns 52,620,238 shares in the company, valued at $2,824,128,173.46. The disclosure for this sale can be found here. Insiders have sold 1,021,200 shares of company stock worth $57,219,110 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

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.