Western Standard LLC Takes Position in Kellanova (NYSE:K)

Western Standard LLC purchased a new stake in shares of Kellanova (NYSE:K) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 64,000 shares of the company’s stock, valued at approximately $5,165,000. Kellanova accounts for approximately 4.8% of Western Standard LLC’s investment portfolio, making the stock its 7th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Swedbank AB lifted its position in shares of Kellanova by 20.5% in the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after buying an additional 46,450 shares in the last quarter. SG Americas Securities LLC raised its stake in Kellanova by 498.7% during the second quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock valued at $15,049,000 after purchasing an additional 217,320 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Kellanova by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after purchasing an additional 24,067 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Kellanova in the third quarter valued at $4,211,000. Finally, Cetera Advisors LLC grew its stake in shares of Kellanova by 61.5% during the first quarter. Cetera Advisors LLC now owns 24,530 shares of the company’s stock valued at $1,405,000 after buying an additional 9,338 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insiders Place Their Bets

In other 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 shares were sold at an average price of $80.65, for a total value of $9,241,118.95. Following the sale, the insider now directly owns 50,368,272 shares of the company’s stock, valued at approximately $4,062,201,136.80. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have sold 1,145,830 shares of company stock valued at $92,516,606. Insiders own 1.80% of the company’s stock.

Kellanova Trading Up 0.4 %

Shares of Kellanova stock opened at $80.78 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 twelve month low of $52.46 and a twelve month high of $81.34. The firm has a market capitalization of $27.84 billion, a PE ratio of 27.76, a P/E/G ratio of 2.59 and a beta of 0.38. The firm’s 50-day moving average price is $80.82 and its 200 day moving average price is $71.84.

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

Kellanova Dividend Announcement

The business also recently declared 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. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.82%. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Wall Street Analyst Weigh In

K has been the topic of a number of recent analyst reports. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research note on Friday, November 1st. Stifel Nicolaus lifted their price objective on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a report on Thursday, August 15th. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler lifted their price objective on shares of Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $76.35.

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.