Sherman Asset Management Inc. Purchases Shares of 536 Kellanova (NYSE:K)

Sherman Asset Management Inc. purchased a new stake in shares of Kellanova (NYSE:K) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 536 shares of the company’s stock, valued at approximately $43,000.

Other large investors have also made changes to their positions in the company. Louisiana State Employees Retirement System grew its stake in shares of Kellanova by 1.3% during the 3rd quarter. Louisiana State Employees Retirement System now owns 15,100 shares of the company’s stock valued at $1,219,000 after acquiring an additional 200 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Kellanova by 9.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,919 shares of the company’s stock valued at $1,204,000 after acquiring an additional 1,249 shares during the period. Cigna Investments Inc. New bought a new position in shares of Kellanova during the 3rd quarter valued at approximately $214,000. BSW Wealth Partners bought a new position in shares of Kellanova during the 3rd quarter valued at approximately $267,000. Finally, Forum Financial Management LP bought a new position in shares of Kellanova during the 3rd quarter valued at approximately $263,000. 83.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on K. StockNews.com started coverage on Kellanova in a research note on Monday, February 24th. They set a “hold” rating for the company. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target on the stock in a report on Tuesday, February 18th. Thirteen analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $77.96.

Kellanova Stock Up 0.5 %

Shares of K opened at $82.90 on Monday. The stock has a market capitalization of $28.62 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37. Kellanova has a 1 year low of $52.46 and a 1 year high of $82.94. The business’s 50 day simple moving average is $81.77 and its 200-day simple moving average is $81.06. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Monday, March 3rd. Kellanova’s dividend payout ratio is currently 58.91%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $82.70, for a total transaction of $9,476,014.10. Following the transaction, the insider now owns 47,847,446 shares of the company’s stock, valued at approximately $3,956,983,784.20. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 1,145,830 shares of company stock valued at $93,461,916. 1.80% of the stock is currently owned by insiders.

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.