GAMMA Investing LLC Takes $160,000 Position in Kellanova (NYSE:K)

GAMMA Investing LLC acquired a new position in Kellanova (NYSE:K) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,930 shares of the company’s stock, valued at approximately $160,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in K. Comerica Bank bought a new position in Kellanova in the 3rd quarter worth about $4,974,000. Raymond James & Associates grew its stake in Kellanova by 11.9% in the 4th quarter. Raymond James & Associates now owns 400,371 shares of the company’s stock worth $22,385,000 after acquiring an additional 42,656 shares in the last quarter. Soltis Investment Advisors LLC boosted its stake in shares of Kellanova by 25.7% during the third quarter. Soltis Investment Advisors LLC now owns 46,127 shares of the company’s stock valued at $2,745,000 after purchasing an additional 9,434 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Kellanova by 29.0% in the fourth quarter. Handelsbanken Fonder AB now owns 180,783 shares of the company’s stock valued at $10,108,000 after acquiring an additional 40,656 shares in the last quarter. Finally, Savoir Faire Capital Management L.P. acquired a new stake in Kellanova in the third quarter valued at approximately $3,248,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Citigroup initiated coverage on shares of Kellanova in a research note on Thursday, February 1st. They issued a “neutral” rating and a $57.00 target price for the company. JPMorgan Chase & Co. raised their price target on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Stifel Nicolaus raised their price target on shares of Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Wells Fargo & Company raised their price target on shares of Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. Finally, Piper Sandler raised their price target on shares of Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Twelve 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, Kellanova currently has an average rating of “Hold” and a consensus target price of $62.27.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $54.68, for a total value of $4,254,104.00. Following the sale, the insider now owns 52,775,838 shares in the company, valued at $2,885,782,821.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 933,600 shares of company stock worth $51,632,748 over the last 90 days. 1.80% of the stock is currently owned by company insiders.

Kellanova Trading Down 1.2 %

Shares of Kellanova stock opened at $57.73 on Friday. The stock has a market cap of $19.73 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 2.24 and a beta of 0.40. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. The firm has a fifty day moving average price of $55.96 and a 200 day moving average price of $54.27. Kellanova has a 1 year low of $47.63 and a 1 year high of $72.30.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The firm’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the business earned $0.94 earnings per share. Equities research analysts predict that Kellanova will post 3.57 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.56 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.24 annualized dividend and a dividend yield of 3.88%. Kellanova’s dividend payout ratio (DPR) is 81.45%.

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.