Summit Securities Group LLC Takes Position in Kellanova (NYSE:K)

Summit Securities Group LLC acquired a new stake in shares of Kellanova (NYSE:K) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,700 shares of the company’s stock, valued at approximately $138,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of K. Independent Advisor Alliance grew its holdings in Kellanova by 16.5% in the 4th quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock valued at $583,000 after buying an additional 1,019 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Kellanova by 5.1% in the third quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock valued at $14,435,000 after purchasing an additional 8,686 shares in the last quarter. Wedmont Private Capital purchased a new stake in shares of Kellanova during the fourth quarter worth $384,000. Barclays PLC raised its position in 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 purchasing an additional 1,033,383 shares in the last quarter. Finally, Alpine Associates Management Inc. grew its holdings in Kellanova by 93.5% during the 4th quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company’s stock worth $49,622,000 after acquiring an additional 296,150 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $81.28, for a total value of $9,313,306.24. Following the transaction, the insider now directly owns 48,649,527 shares of the company’s stock, valued at approximately $3,954,233,554.56. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 1,374,996 shares of company stock worth $112,737,068. Company insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

K opened at $82.43 on Friday. Kellanova has a 1-year low of $55.01 and a 1-year high of $83.22. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The business has a 50 day moving average price of $82.24 and a two-hundred day moving average price of $81.33. The company has a market capitalization of $28.45 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 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%. Research analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova’s dividend payout ratio (DPR) is presently 58.91%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. StockNews.com initiated coverage on shares of Kellanova in a research report on Friday. They issued a “hold” rating on the stock. Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Fourteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.96.

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.