Los Angeles Capital Management LLC Invests $2.33 Million in Kellanova (NYSE:K)

Los Angeles Capital Management LLC acquired a new position in shares of Kellanova (NYSE:K) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 40,641 shares of the company’s stock, valued at approximately $2,328,000.

A number of other hedge funds also recently made changes to their positions in K. Norges Bank bought a new stake in Kellanova in the fourth quarter worth approximately $150,184,000. Vanguard Group Inc. increased its holdings in Kellanova by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock worth $1,797,525,000 after purchasing an additional 1,130,582 shares in the last quarter. Anchor Capital Advisors LLC bought a new stake in Kellanova in the fourth quarter worth approximately $38,939,000. Beutel Goodman & Co Ltd. increased its holdings in Kellanova by 15.5% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock worth $273,504,000 after purchasing an additional 655,686 shares in the last quarter. Finally, Clearbridge Investments LLC acquired a new stake in Kellanova in the fourth quarter valued at approximately $35,372,000. 83.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $60.05, for a total value of $588,490.00. Following the sale, the senior vice president now owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $55.35, for a total value of $4,306,230.00. Following the sale, the insider now owns 51,997,838 shares of the company’s stock, valued at $2,878,080,333.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Nicolas Amaya sold 9,800 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the sale, the senior vice president now directly owns 26,191 shares in the company, valued at approximately $1,572,769.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 787,800 shares of company stock valued at $46,428,250. Company insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

Shares of Kellanova stock opened at $57.48 on Friday. The business’s fifty day simple moving average is $59.55 and its 200 day simple moving average is $56.69. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34. Kellanova has a 12 month low of $47.63 and a 12 month high of $68.69. The firm has a market capitalization of $19.65 billion, a P/E ratio of 21.53, a price-to-earnings-growth ratio of 2.09 and a beta of 0.35.

Kellanova (NYSE:K) last released its earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.10 EPS. As a group, analysts anticipate that Kellanova will post 3.61 EPS for the current year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.90%. The ex-dividend date was Monday, June 3rd. Kellanova’s dividend payout ratio is 83.90%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on K shares. JPMorgan Chase & Co. raised their price objective on Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. DA Davidson raised their price objective on Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. TD Cowen raised their price objective on Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Finally, Barclays raised their price objective on Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Kellanova presently has an average rating of “Hold” and a consensus price target of $61.85.

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.