Waterloo Capital L.P. Boosts Position in Kellanova (NYSE:K)

Waterloo Capital L.P. raised its position in Kellanova (NYSE:K) by 10.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,279 shares of the company’s stock after acquiring an additional 2,601 shares during the quarter. Waterloo Capital L.P.’s holdings in Kellanova were worth $2,209,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Stonebridge Financial Group LLC bought a new stake in shares of Kellanova during the 4th quarter valued at $27,000. BankPlus Trust Department bought a new stake in Kellanova during the fourth quarter valued at about $28,000. Rialto Wealth Management LLC purchased a new stake in Kellanova in the fourth quarter worth about $32,000. Flagship Wealth Advisors LLC bought a new position in shares of Kellanova in the fourth quarter worth about $32,000. Finally, First Horizon Advisors Inc. lifted its position in shares of Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after buying an additional 173 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $81.28, for a total transaction of $9,313,306.24. Following the sale, the insider now owns 48,649,527 shares in the company, valued at approximately $3,954,233,554.56. This represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 1,260,413 shares of company stock worth $103,473,032. 1.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

K has been the subject of several analyst reports. Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. StockNews.com started coverage on shares of Kellanova in a research note on Saturday. They issued a “hold” rating for the company. Fourteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $77.96.

Kellanova Stock Down 0.4 %

K opened at $82.25 on Friday. The company has a market capitalization of $28.39 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. The firm has a 50-day simple moving average of $82.31 and a two-hundred day simple moving average of $81.40. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. Kellanova has a 52 week low of $55.01 and a 52 week high of $83.22.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

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

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.