Kellanova (NYSE:K) Shares Acquired by Cognios Beta Neutral Large Cap Fund LP

Cognios Beta Neutral Large Cap Fund LP increased its stake in Kellanova (NYSE:K) by 15.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,590 shares of the company’s stock after purchasing an additional 1,284 shares during the quarter. Cognios Beta Neutral Large Cap Fund LP’s holdings in Kellanova were worth $536,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of K. Comerica Bank bought a new position in Kellanova during the 3rd quarter worth approximately $4,974,000. Raymond James & Associates lifted its holdings in Kellanova by 11.9% during the 4th quarter. Raymond James & Associates now owns 400,371 shares of the company’s stock worth $22,385,000 after buying an additional 42,656 shares during the last quarter. Soltis Investment Advisors LLC lifted its holdings in Kellanova by 25.7% during the 3rd quarter. Soltis Investment Advisors LLC now owns 46,127 shares of the company’s stock worth $2,745,000 after buying an additional 9,434 shares during the last quarter. CX Institutional lifted its holdings in Kellanova by 52.9% during the 4th quarter. CX Institutional now owns 59,975 shares of the company’s stock worth $3,353,000 after buying an additional 20,752 shares during the last quarter. Finally, Savoir Faire Capital Management L.P. bought a new position in Kellanova during the 3rd quarter worth approximately $3,248,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $53.62, for a total value of $4,171,636.00. Following the completion of the sale, the insider now owns 52,698,038 shares of the company’s stock, valued at $2,825,668,797.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 933,600 shares of company stock valued at $51,632,748 over the last quarter. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on K. Stifel Nicolaus increased their target price on Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. DA Davidson started coverage on Kellanova in a report on Friday, March 1st. They issued a “buy” rating and a $67.00 price target on the stock. StockNews.com cut Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Piper Sandler lifted their price target on Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Finally, Barclays lifted their price target on Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Kellanova currently has a consensus rating of “Hold” and a consensus target price of $62.27.

Kellanova Stock Up 1.0 %

K traded up $0.61 during trading on Wednesday, reaching $58.75. 2,283,171 shares of the stock traded hands, compared to its average volume of 3,096,589. The stock has a market cap of $20.08 billion, a price-to-earnings ratio of 21.33, a price-to-earnings-growth ratio of 2.22 and a beta of 0.40. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $72.30. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. The stock’s 50-day simple moving average is $55.76 and its two-hundred day simple moving average is $54.16.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the firm earned $0.94 earnings per share. As a group, equities research analysts expect that Kellanova will post 3.57 EPS for the current year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.56 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.24 dividend on an annualized basis and a yield of 3.81%. Kellanova’s payout ratio is 81.45%.

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.