Ingalls & Snyder LLC Makes New $261,000 Investment in Kellanova (NYSE:K)

Ingalls & Snyder LLC purchased a new stake in shares of Kellanova (NYSE:K) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,230 shares of the company’s stock, valued at approximately $261,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Investors Research Corp lifted its position in Kellanova by 1.0% during the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company’s stock valued at $1,049,000 after purchasing an additional 125 shares during the period. Assetmark Inc. raised its stake in shares of Kellanova by 26.2% during the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after buying an additional 131 shares during the last quarter. MCF Advisors LLC raised its stake in shares of Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares during the last quarter. S.A. Mason LLC lifted its holdings in Kellanova by 7.6% in the third quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock valued at $160,000 after buying an additional 140 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its stake in Kellanova by 41.4% in the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after acquiring an additional 158 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Trading Down 0.1 %

K opened at $80.59 on Wednesday. The firm’s fifty day simple moving average is $80.82 and its 200 day simple moving average is $71.65. The stock has a market capitalization of $27.78 billion, a P/E ratio of 27.69, a P/E/G ratio of 2.59 and a beta of 0.38. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. Kellanova has a 12 month low of $52.46 and a 12 month high of $81.34.

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

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Monday, December 2nd. Kellanova’s dividend payout ratio is presently 78.35%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on K shares. Piper Sandler increased their price target on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research note on Thursday, August 15th. The Goldman Sachs Group began coverage on Kellanova in a research note on Monday, August 12th. They issued a “neutral” rating and a $75.00 target price on the stock. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a research report on Friday, November 1st. StockNews.com initiated coverage on shares of Kellanova in a research report on Thursday, November 28th. They issued a “hold” rating on the stock. Finally, DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Fifteen analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $76.35.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the transaction, the insider now owns 50,368,272 shares of the company’s stock, valued at $4,062,201,136.80. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 1,145,830 shares of company stock valued at $92,516,606 over the last 90 days. 1.80% of the stock is owned by corporate insiders.

Kellanova Company 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.