Miller Financial Services LLC Takes $570,000 Position in Kellanova (NYSE:K)

Miller Financial Services LLC acquired a new stake in Kellanova (NYSE:K) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,045 shares of the company’s stock, valued at approximately $570,000.

A number of other hedge funds have also made changes to their positions in K. Westchester Capital Management LLC acquired a new stake in Kellanova during the 3rd quarter worth approximately $107,795,000. Barclays PLC lifted its holdings in shares of Kellanova by 134.7% in the 3rd 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 period. State Street Corp lifted its holdings in shares of Kellanova by 5.2% in the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after buying an additional 731,273 shares during the period. Ilex Capital Partners UK LLP lifted its holdings in shares of Kellanova by 63.8% in the 3rd quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock valued at $131,091,000 after buying an additional 632,510 shares during the period. Finally, Syquant Capital Sas acquired a new stake in shares of Kellanova in the 4th quarter valued at approximately $29,595,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. StockNews.com assumed coverage on Kellanova in a report on Tuesday, March 4th. They issued 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 for the company in a report on Tuesday, February 18th. Thirteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $77.96.

Kellanova Stock Performance

Kellanova stock opened at $82.44 on Tuesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The stock has a fifty day moving average of $81.95 and a two-hundred day moving average of $81.15. The company has a market capitalization of $28.46 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 4.21 and a beta of 0.31. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $83.22.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share 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%. On average, analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders 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 yield of 2.77%. The ex-dividend date is Monday, March 3rd. Kellanova’s payout ratio is 58.91%.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Friday, March 7th. The stock was sold at an average price of $82.55, for a total value of $9,458,826.65. Following the completion of the sale, the insider now owns 47,732,863 shares of the company’s stock, valued at $3,940,347,840.65. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 1,145,830 shares of company stock valued at $93,673,894. Corporate insiders own 1.80% of the company’s stock.

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.