Summit Trail Advisors LLC Raises Holdings in Kellanova (NYSE:K)

Summit Trail Advisors LLC boosted its stake in shares of Kellanova (NYSE:K) by 140.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,557 shares of the company’s stock after buying an additional 5,003 shares during the period. Summit Trail Advisors LLC’s holdings in Kellanova were worth $691,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Investors Research Corp grew its position in shares of Kellanova by 1.0% in the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company’s stock worth $1,049,000 after buying an additional 125 shares during the last quarter. Assetmark Inc. grew its holdings in Kellanova by 26.2% in the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after purchasing an additional 131 shares during the last quarter. MCF Advisors LLC increased its position in shares of Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after purchasing an additional 137 shares in the last quarter. S.A. Mason LLC lifted its holdings in shares of Kellanova by 7.6% during the 3rd quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock valued at $160,000 after purchasing an additional 140 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position in shares of Kellanova by 41.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after purchasing an additional 158 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Analysts Set New Price Targets

K has been the topic of several recent analyst reports. Evercore ISI raised Kellanova to a “hold” rating in a research report on Friday, August 2nd. Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company boosted their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. StockNews.com initiated coverage on shares of Kellanova in a report on Wednesday, November 20th. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group began coverage on shares of Kellanova in a report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective on the stock. Fifteen analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $76.35.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the transaction, the insider now owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 1,109,047 shares of company stock worth $89,483,556. 1.80% of the stock is owned by company insiders.

Kellanova Stock Performance

NYSE K opened at $81.11 on Tuesday. The firm has a market capitalization of $27.96 billion, a P/E ratio of 27.87, a PEG ratio of 2.61 and a beta of 0.39. The stock has a 50-day simple moving average of $80.78 and a two-hundred day simple moving average of $70.85. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. Kellanova has a fifty-two week low of $51.02 and a fifty-two week high of $81.34.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the business earned $1.03 earnings per share. Kellanova’s quarterly revenue was down .7% on a year-over-year basis. On average, equities analysts forecast that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

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.