GAMMA Investing LLC Grows Stake in Kellanova (NYSE:K)

GAMMA Investing LLC grew its holdings in shares of Kellanova (NYSE:K) by 10.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,703 shares of the company’s stock after purchasing an additional 626 shares during the quarter. GAMMA Investing LLC’s holdings in Kellanova were worth $543,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Swedbank AB grew its position in Kellanova by 20.5% during the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after purchasing an additional 46,450 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of Kellanova by 5.1% during the third quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after buying an additional 8,686 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Kellanova by 6.9% during the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after buying an additional 24,067 shares during the last quarter. Barclays PLC grew its holdings in shares of Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after buying an additional 1,033,383 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Kellanova in the 3rd quarter valued at $4,211,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Argus cut Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. StockNews.com assumed coverage on Kellanova in a report on Monday, December 30th. They set a “hold” rating for the company. Finally, BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a report on Friday, November 1st. Fifteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $76.35.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $80.63, for a total value of $9,238,827.29. Following the sale, the insider now owns 49,909,940 shares in the company, valued at $4,024,238,462.20. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 916,664 shares of company stock valued at $74,105,409 in the last three months. 1.80% of the stock is currently owned by company insiders.

Kellanova Stock Performance

Shares of NYSE K opened at $81.21 on Monday. The company has a market capitalization of $27.99 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 2.59 and a beta of 0.38. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The company’s fifty day moving average price is $80.81 and its 200 day moving average price is $75.01. Kellanova has a 1 year low of $52.46 and a 1 year high of $81.34.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the company posted $1.03 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. On average, research analysts predict that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

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.