Wolverine Asset Management LLC Acquires 9,028 Shares of Kellanova $K

Wolverine Asset Management LLC grew its holdings in shares of Kellanova (NYSE:K) by 22.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,604 shares of the company’s stock after buying an additional 9,028 shares during the quarter. Wolverine Asset Management LLC’s holdings in Kellanova were worth $3,865,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Simon Quick Advisors LLC bought a new position in shares of Kellanova during the second quarter valued at approximately $236,000. Strs Ohio grew its stake in shares of Kellanova by 23.1% during the second quarter. Strs Ohio now owns 32,937 shares of the company’s stock valued at $2,619,000 after buying an additional 6,191 shares during the last quarter. Assetmark Inc. grew its stake in shares of Kellanova by 60.8% during the second quarter. Assetmark Inc. now owns 2,251 shares of the company’s stock valued at $179,000 after buying an additional 851 shares during the last quarter. Auto Owners Insurance Co grew its stake in shares of Kellanova by 369.1% during the second quarter. Auto Owners Insurance Co now owns 135,100 shares of the company’s stock valued at $10,745,000 after buying an additional 106,300 shares during the last quarter. Finally, New York Life Investment Management LLC grew its stake in shares of Kellanova by 10.3% during the second quarter. New York Life Investment Management LLC now owns 176,416 shares of the company’s stock valued at $14,030,000 after buying an additional 16,467 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wall Street Zen upgraded Kellanova from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings lowered Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Finally, JPMorgan Chase & Co. assumed coverage on Kellanova in a report on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 price target for the company. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $83.50.

Kellanova Stock Down 0.1%

Kellanova stock opened at $83.08 on Friday. The business has a fifty day moving average of $80.84 and a two-hundred day moving average of $80.87. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03. The firm has a market cap of $28.88 billion, a P/E ratio of 21.80, a P/E/G ratio of 5.16 and a beta of 0.24. Kellanova has a twelve month low of $76.48 and a twelve month high of $83.22.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 30th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.25 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.Kellanova’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. On average, analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.58 per share. The ex-dividend date is Monday, December 1st. This represents a $2.32 dividend on an annualized basis and a yield of 2.8%. Kellanova’s dividend payout ratio is currently 60.89%.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the company’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the completion of the sale, the insider owned 45,097,438 shares in the company, valued at $3,587,501,192.90. This represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 343,765 shares of company stock worth $27,455,360 in the last ninety days. 1.80% of the stock is owned by corporate insiders.

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.