Brown Advisory Inc. Acquires 123,509 Shares of Kellanova (NYSE:K)

Brown Advisory Inc. boosted its holdings in shares of Kellanova (NYSE:KFree Report) by 17.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 847,544 shares of the company’s stock after acquiring an additional 123,509 shares during the period. Brown Advisory Inc. owned 0.25% of Kellanova worth $47,386,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Baker Avenue Asset Management LP grew its position in Kellanova by 205.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after purchasing an additional 341 shares during the last quarter. Blue Trust Inc. raised its holdings in Kellanova by 55.1% in the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after acquiring an additional 206 shares during the last quarter. Northwest Financial Advisors bought a new position in Kellanova in the 4th quarter valued at approximately $42,000. Massmutual Trust Co. FSB ADV lifted its position in Kellanova by 339.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock valued at $67,000 after acquiring an additional 928 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of Kellanova in the 4th quarter worth $74,000. Institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

K has been the subject of a number of research reports. DA Davidson boosted their target price on shares of Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. boosted their price target on Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Barclays upped their price target on shares of Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research report on Monday, May 6th. Citigroup started coverage on shares of Kellanova in a report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price objective on the stock. Finally, Piper Sandler increased their price target on shares of Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Twelve investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $61.85.

Read Our Latest Research Report on Kellanova

Kellanova Trading Down 0.9 %

Kellanova stock traded down $0.58 during midday trading on Friday, reaching $61.56. The stock had a trading volume of 2,249,351 shares, compared to its average volume of 3,281,798. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34. The firm has a market cap of $21.05 billion, a price-to-earnings ratio of 23.06, a price-to-earnings-growth ratio of 2.18 and a beta of 0.39. Kellanova has a 52-week low of $47.63 and a 52-week high of $69.61. The company has a fifty day moving average of $57.65 and a 200 day moving average of $55.42.

Kellanova (NYSE:KGet Free Report) last released its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.10 earnings per share. On average, analysts anticipate that Kellanova will post 3.62 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, June 14th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.64%. Kellanova’s dividend payout ratio is currently 83.90%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $56.05, for a total value of $4,360,690.00. Following the completion of the transaction, the insider now directly owns 52,542,438 shares in the company, valued at $2,945,003,649.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $56.05, for a total transaction of $4,360,690.00. Following the sale, the insider now owns 52,542,438 shares in the company, valued at approximately $2,945,003,649.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $60.05, for a total value of $588,490.00. Following the completion of the transaction, the senior vice president now owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 943,400 shares of company stock valued at $53,719,666. 1.80% of the stock is currently owned by corporate insiders.

About Kellanova

(Free Report)

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.

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Institutional Ownership by Quarter for Kellanova (NYSE:K)

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