Amalgamated Bank Buys 1,537 Shares of Kellanova (NYSE:K)

Amalgamated Bank boosted its holdings in shares of Kellanova (NYSE:K) by 2.9% during the fourth quarter, Holdings Channel reports. The firm owned 53,930 shares of the company’s stock after acquiring an additional 1,537 shares during the quarter. Amalgamated Bank’s holdings in Kellanova were worth $4,367,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Investors Research Corp increased its holdings in Kellanova by 1.0% during the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company’s stock valued at $1,049,000 after purchasing an additional 125 shares during the period. Assetmark Inc. grew its holdings in shares of Kellanova by 26.2% during the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after acquiring an additional 131 shares during the period. Quent Capital LLC grew its holdings in shares of Kellanova by 20.2% during the 4th quarter. Quent Capital LLC now owns 833 shares of the company’s stock worth $67,000 after acquiring an additional 140 shares during the period. Sanctuary Advisors LLC grew its holdings in shares of Kellanova by 1.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock worth $690,000 after acquiring an additional 145 shares during the period. Finally, CENTRAL TRUST Co grew its holdings in shares of Kellanova by 0.7% during the 4th quarter. CENTRAL TRUST Co now owns 22,480 shares of the company’s stock worth $1,820,000 after acquiring an additional 162 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price on the stock in a report on Tuesday, February 18th. StockNews.com assumed coverage on Kellanova in a report on Monday, February 24th. They set a “hold” rating on the stock. Finally, BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a report on Friday, November 1st. Thirteen equities research 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, Kellanova has a consensus rating of “Hold” and an average price target of $77.96.

Kellanova Stock Performance

Kellanova stock opened at $82.90 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $28.62 billion, a P/E ratio of 21.42, a PEG ratio of 4.21 and a beta of 0.37. The stock’s 50 day moving average is $81.77 and its 200 day moving average is $80.96. Kellanova has a twelve month low of $52.46 and a twelve month high of $82.94.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. On average, equities research analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be given a $0.57 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.28 annualized dividend and a yield of 2.75%. Kellanova’s dividend payout ratio (DPR) is presently 58.91%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $80.64, for a total value of $9,239,973.12. Following the transaction, the insider now directly owns 48,878,693 shares of the company’s stock, valued at approximately $3,941,577,803.52. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 1,145,830 shares of company stock valued at $93,461,916. 1.80% of the stock is owned by corporate insiders.

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.