Norden Group LLC Purchases New Position in Kellanova (NYSE:K)

Norden Group LLC purchased a new stake in shares of Kellanova (NYSE:K) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 6,888 shares of the company’s stock, valued at approximately $395,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bfsg LLC increased its position in shares of Kellanova by 64.5% during the first quarter. Bfsg LLC now owns 510 shares of the company’s stock valued at $29,000 after buying an additional 200 shares during the period. Motco grew its holdings in Kellanova by 757.6% in the fourth quarter. Motco now owns 566 shares of the company’s stock worth $32,000 after purchasing an additional 500 shares during the period. Blue Trust Inc. grew its holdings in Kellanova by 55.1% in the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after purchasing an additional 206 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Kellanova by 139.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 736 shares of the company’s stock worth $41,000 after purchasing an additional 428 shares during the period. Finally, YHB Investment Advisors Inc. purchased a new stake in Kellanova in the first quarter worth about $42,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Trading Down 0.1 %

Shares of Kellanova stock opened at $56.84 on Friday. The company’s fifty day simple moving average is $59.40 and its 200-day simple moving average is $56.98. The stock has a market capitalization of $19.43 billion, a PE ratio of 21.29, a P/E/G ratio of 1.99 and a beta of 0.34. Kellanova has a 1-year low of $47.63 and a 1-year high of $68.23. 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 issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.10 EPS. As a group, equities analysts anticipate that Kellanova will post 3.62 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Monday, June 3rd were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend was Monday, June 3rd. Kellanova’s dividend payout ratio (DPR) is 83.90%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Bank of America cut their price objective on shares of Kellanova from $64.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday. TD Cowen upped their price objective on shares of Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Barclays increased their price target on shares of Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, May 6th. JPMorgan Chase & Co. raised their price target on shares of Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Finally, DA Davidson raised their price target on shares of Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Kellanova currently has an average rating of “Hold” and a consensus target price of $61.85.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $62.31, for a total transaction of $4,847,718.00. Following the transaction, the insider now owns 51,686,638 shares in the company, valued at approximately $3,220,594,413.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $62.31, for a total transaction of $4,847,718.00. Following the transaction, the insider now owns 51,686,638 shares in the company, valued at approximately $3,220,594,413.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction 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 transaction, the senior vice president now owns 26,191 shares in the company, valued at approximately $1,572,769.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 865,600 shares of company stock worth $50,838,732. 1.80% of the stock is owned by corporate insiders.

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.