Wynn Capital LLC Purchases New Shares in Kellanova (NYSE:K)

Wynn Capital LLC bought a new stake in Kellanova (NYSE:K) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,891 shares of the company’s stock, valued at approximately $329,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Invesco Ltd. lifted its holdings in Kellanova by 29.4% during the third quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock worth $296,971,000 after acquiring an additional 1,132,485 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Kellanova by 27.4% in 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. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Kellanova by 738.6% in 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. Deutsche Bank AG raised its stake in shares of Kellanova by 27.4% in 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. Finally, Northern Trust Corp raised its stake in shares of Kellanova by 8.7% in the 3rd quarter. Northern Trust Corp now owns 4,116,944 shares of the company’s stock valued at $244,999,000 after purchasing an additional 328,658 shares during the period. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Price Performance

Shares of K traded up $0.61 during trading hours on Wednesday, reaching $58.75. The stock had a trading volume of 2,283,171 shares, compared to its average volume of 3,096,589. Kellanova has a 12 month low of $47.63 and a 12 month high of $72.30. The stock has a market capitalization of $20.08 billion, a PE ratio of 21.33, a PEG ratio of 2.22 and a beta of 0.40. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.41 and a current ratio of 0.66. The company’s 50-day moving average is $55.76 and its two-hundred day moving average is $54.16.

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

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.81%. The ex-dividend date was Thursday, February 29th. Kellanova’s dividend payout ratio (DPR) is presently 81.45%.

Wall Street Analysts Forecast Growth

K has been the topic of several recent research reports. Wells Fargo & Company lifted their price target on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Citigroup began coverage on Kellanova in a research report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 target price on the stock. Barclays lifted their target price on Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. DA Davidson assumed coverage on Kellanova in a research report on Friday, March 1st. They set a “buy” rating and a $67.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Twelve investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kellanova has a consensus rating of “Hold” and a consensus price target of $62.27.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova 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 transaction, the insider now directly owns 52,698,038 shares of the company’s stock, valued at approximately $2,825,668,797.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 933,600 shares of company stock valued at $51,632,748. Corporate insiders own 1.80% of the company’s stock.

Kellanova 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.