Diversified Trust Co Raises Stock Holdings in Kellanova (NYSE:K)

Diversified Trust Co lifted its holdings in shares of Kellanova (NYSE:K) by 61.3% in the 1st quarter, Holdings Channel reports. The firm owned 85,120 shares of the company’s stock after acquiring an additional 32,361 shares during the period. Diversified Trust Co’s holdings in Kellanova were worth $4,877,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of K. Naples Global Advisors LLC lifted its position in Kellanova by 1.7% in the fourth quarter. Naples Global Advisors LLC now owns 11,696 shares of the company’s stock valued at $654,000 after purchasing an additional 200 shares during the last quarter. Financial Advisors Network Inc. lifted its position in Kellanova by 4.2% in the fourth quarter. Financial Advisors Network Inc. now owns 5,040 shares of the company’s stock valued at $282,000 after purchasing an additional 204 shares during the last quarter. Blue Trust Inc. lifted its position in Kellanova by 55.1% in the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after purchasing an additional 206 shares during the last quarter. Czech National Bank lifted its position in Kellanova by 0.5% in the first quarter. Czech National Bank now owns 46,405 shares of the company’s stock valued at $2,659,000 after purchasing an additional 213 shares during the last quarter. Finally, Kennedy Investment Group lifted its position in Kellanova by 1.2% in the fourth quarter. Kennedy Investment Group now owns 18,520 shares of the company’s stock valued at $1,035,000 after purchasing an additional 218 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on K. DA Davidson upped their target price on Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, May 9th. JPMorgan Chase & Co. upped their target price on Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Barclays upped their target price on Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, May 6th. Finally, TD Cowen upped their target price on Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Eleven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $61.83.

Kellanova Stock Down 1.0 %

K stock traded down $0.58 during midday trading on Monday, hitting $57.10. The stock had a trading volume of 477,915 shares, compared to its average volume of 2,920,852. The firm has a market cap of $19.52 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 2.04 and a beta of 0.35. The business has a 50-day moving average of $59.71 and a two-hundred day moving average of $56.86. Kellanova has a 52-week low of $47.63 and a 52-week high of $68.69. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41.

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. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the prior year, the firm posted $1.10 earnings per share. The company’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, equities research analysts forecast that Kellanova will post 3.62 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.92%. Kellanova’s dividend payout ratio is currently 83.90%.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $57.64, for a total transaction of $4,484,392.00. Following the transaction, the insider now directly owns 51,219,838 shares of the company’s stock, valued at $2,952,311,462.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $60.05, for a total value of $588,490.00. Following the transaction, the senior vice president now directly 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 Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $57.64, for a total value of $4,484,392.00. Following the completion of the transaction, the insider now directly owns 51,219,838 shares in the company, valued at $2,952,311,462.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 865,600 shares of company stock valued at $50,941,428. 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.