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

Graypoint LLC grew its holdings in shares of Kellanova (NYSE:K) by 4.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,243 shares of the company’s stock after buying an additional 481 shares during the quarter. Graypoint LLC’s holdings in Kellanova were worth $910,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. ST Germain D J Co. Inc. lifted its position in Kellanova by 114.3% during the 4th quarter. ST Germain D J Co. Inc. now owns 750 shares of the company’s stock worth $61,000 after buying an additional 400 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Kellanova by 2.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,227 shares of the company’s stock valued at $1,229,000 after purchasing an additional 308 shares during the period. Nordea Investment Management AB raised its holdings in shares of Kellanova by 52.9% in the 4th quarter. Nordea Investment Management AB now owns 33,434 shares of the company’s stock valued at $2,704,000 after purchasing an additional 11,561 shares during the period. General Partner Inc. bought a new stake in shares of Kellanova in the 4th quarter valued at about $145,000. Finally, GAMMA Investing LLC raised its holdings in shares of Kellanova by 10.3% in the 4th quarter. GAMMA Investing LLC now owns 6,703 shares of the company’s stock valued at $543,000 after purchasing an additional 626 shares during the period. 83.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $80.96, for a total value of $9,276,639.68. Following the transaction, the insider now directly owns 49,795,357 shares of the company’s stock, valued at $4,031,432,102.72. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 1,031,247 shares of company stock valued at $83,418,716 over the last three months. 1.80% of the stock is owned by insiders.

Kellanova Price Performance

NYSE K opened at $81.54 on Friday. 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 1-year low of $52.46 and a 1-year high of $81.58. The company has a 50 day moving average of $80.89 and a 200-day moving average of $75.59. The company has a market cap of $28.11 billion, a price-to-earnings ratio of 28.02, a PEG ratio of 2.59 and a beta of 0.37.

Kellanova (NYSE:K) last released 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. 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 the consensus estimate of $3.16 billion. During the same period in the previous year, the business earned $1.03 earnings per share. The firm’s quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts expect that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed 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 of this dividend was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.80%. Kellanova’s dividend payout ratio (DPR) is 78.35%.

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.