Wilmington Savings Fund Society FSB Takes $210,000 Position in Kellanova (NYSE:K)

Wilmington Savings Fund Society FSB bought a new position in shares of Kellanova (NYSE:K) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,601 shares of the company’s stock, valued at approximately $210,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. D. E. Shaw & Co. Inc. raised its holdings in shares of Kellanova by 766.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock valued at $108,532,000 after acquiring an additional 1,664,461 shares during the period. Maverick Capital Ltd. acquired a new stake in Kellanova during the 2nd quarter valued at $88,065,000. Westchester Capital Management LLC purchased a new stake in shares of Kellanova in the third quarter valued at $107,795,000. Point72 Asset Management L.P. acquired a new stake in shares of Kellanova in the second quarter worth $63,585,000. Finally, Barclays PLC boosted its position in Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after acquiring an additional 1,033,383 shares during the period. 83.87% of the stock is currently owned by institutional investors.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $80.57, for a total transaction of $9,231,952.31. Following the completion of the sale, the insider now directly owns 50,024,523 shares in the company, valued at $4,030,475,818.11. This represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have sold 1,031,247 shares of company stock valued at $83,327,049. 1.80% of the stock is currently owned by company insiders.

Kellanova Stock Performance

Shares of K stock opened at $80.39 on Thursday. The stock has a market cap of $27.71 billion, a P/E ratio of 27.63, a P/E/G ratio of 2.59 and a beta of 0.38. The company has a fifty day moving average price of $80.82 and a two-hundred day moving average price of $73.18. Kellanova has a one year low of $52.46 and a one year high of $81.34. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53.

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

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were paid a $0.57 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.84%. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on K shares. Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a report on Friday, November 1st. DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Finally, StockNews.com started coverage on shares of Kellanova in a report on Saturday, December 14th. They issued a “hold” rating on the stock. Fifteen 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 company has an average rating of “Hold” and an average 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.