General Partner Inc. Makes New $145,000 Investment in Kellanova (NYSE:K)

General Partner Inc. bought a new stake in Kellanova (NYSE:K) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,790 shares of the company’s stock, valued at approximately $145,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CVA Family Office LLC increased its holdings in Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after purchasing an additional 307 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings in shares of Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after buying an additional 200 shares during the period. MCF Advisors LLC raised its holdings in shares of Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after buying an additional 137 shares during the period. Capital Advisors Ltd. LLC lifted its position in Kellanova by 41.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after acquiring an additional 158 shares in the last quarter. Finally, Mather Group LLC. boosted its holdings in Kellanova by 71.3% in the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after acquiring an additional 256 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

K has been the topic of a number of recent research reports. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research report on Friday, November 1st. Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com began coverage on Kellanova in a research note on Monday. They set a “hold” rating for the company. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Kellanova has a consensus rating of “Hold” and an average target price of $76.35.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the transaction, the insider now directly owns 49,222,442 shares of the company’s stock, valued at approximately $3,997,354,514.82. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 1,031,247 shares of company stock worth $83,337,362. Insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

Shares of NYSE:K traded up $0.13 during trading on Friday, hitting $81.19. 125,714 shares of the company traded hands, compared to its average volume of 1,067,904. The stock has a market capitalization of $27.99 billion, a price-to-earnings ratio of 27.90, a PEG ratio of 2.59 and a beta of 0.38. Kellanova has a one year low of $52.46 and a one year high of $81.34. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The business’s fifty day moving average is $80.81 and its 200-day moving average is $74.73.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the prior year, the business earned $1.03 EPS. The firm’s revenue was down .7% on a year-over-year basis. As a group, equities analysts predict that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were paid 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 was Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

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.