West Family Investments Inc. Invests $268,000 in Kellanova (NYSE:K)

West Family Investments Inc. acquired a new stake in shares of Kellanova (NYSE:K) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,789 shares of the company’s stock, valued at approximately $268,000.

Several other hedge funds have also recently made changes to their positions in K. Invesco Ltd. increased its holdings in Kellanova by 29.4% during the third quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock valued at $296,971,000 after buying an additional 1,132,485 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Kellanova by 27.4% during the 3rd quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock valued at $291,061,000 after purchasing an additional 1,051,922 shares during the period. Anchor Capital Advisors LLC bought a new stake in shares of Kellanova during the 4th quarter valued at $38,939,000. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Kellanova by 738.6% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 420,781 shares of the company’s stock valued at $23,522,000 after purchasing an additional 370,607 shares during the period. Finally, Deutsche Bank AG raised its position in shares of Kellanova by 27.4% during the 3rd quarter. Deutsche Bank AG now owns 1,607,621 shares of the company’s stock valued at $95,670,000 after purchasing an additional 345,830 shares during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

K has been the topic of several recent analyst reports. DA Davidson began coverage on shares of Kellanova in a research report on Friday, March 1st. They set a “buy” rating and a $67.00 price objective on the stock. Wells Fargo & Company raised their target price on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. StockNews.com cut shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Citigroup initiated coverage on shares of Kellanova in a research note on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Kellanova has an average rating of “Hold” and an average target price of $62.27.

Kellanova Stock Up 7.9 %

Shares of NYSE:K traded up $4.49 during trading hours on Thursday, hitting $61.47. The company’s stock had a trading volume of 5,156,556 shares, compared to its average volume of 3,173,834. Kellanova has a 52 week low of $47.63 and a 52 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 company has a market capitalization of $21.01 billion, a price-to-earnings ratio of 22.24, a P/E/G ratio of 2.22 and a beta of 0.39. The firm’s fifty day moving average price is $56.06 and its 200 day moving average price is $54.47.

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

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.64%. Kellanova’s dividend payout ratio (DPR) is presently 81.45%.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $53.67, for a total transaction of $4,175,526.00. Following the completion of the transaction, the insider now owns 52,620,238 shares in the company, valued at approximately $2,824,128,173.46. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 933,600 shares of company stock worth $51,891,044 in 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.