Metis Global Partners LLC Buys 2,043 Shares of Kellanova (NYSE:K)

Metis Global Partners LLC lifted its stake in shares of Kellanova (NYSE:K) by 9.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,579 shares of the company’s stock after acquiring an additional 2,043 shares during the period. Metis Global Partners LLC’s holdings in Kellanova were worth $1,262,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Naples Global Advisors LLC increased its position in shares of Kellanova by 1.7% during the fourth quarter. Naples Global Advisors LLC now owns 11,696 shares of the company’s stock worth $654,000 after acquiring an additional 200 shares in the last quarter. Huntington National Bank grew its position in Kellanova by 1.6% in the third quarter. Huntington National Bank now owns 12,808 shares of the company’s stock valued at $762,000 after purchasing an additional 204 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Kellanova by 0.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 30,836 shares of the company’s stock valued at $1,835,000 after purchasing an additional 206 shares in the last quarter. Blue Trust Inc. grew its position in Kellanova by 55.1% in the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after purchasing an additional 206 shares in the last quarter. Finally, Kennedy Investment Group grew its position in Kellanova by 1.2% in the fourth quarter. Kennedy Investment Group now owns 18,520 shares of the company’s stock valued at $1,035,000 after purchasing an additional 218 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Up 1.1 %

Kellanova stock opened at $62.33 on Thursday. The company’s 50-day moving average price is $56.42 and its two-hundred day moving average price is $54.80. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34. The stock has a market cap of $21.31 billion, a P/E ratio of 23.34, a P/E/G ratio of 2.32 and a beta of 0.39. Kellanova has a twelve month low of $47.63 and a twelve month high of $71.53.

Kellanova (NYSE:K) last announced its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.10 earnings per share. As a group, analysts expect that Kellanova will post 3.58 EPS for the current year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Monday, June 3rd. Kellanova’s dividend payout ratio is currently 83.90%.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $52.90, for a total transaction of $4,115,620.00. Following the completion of the sale, the insider now directly owns 52,309,038 shares in the company, valued at approximately $2,767,148,110.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the transaction, the senior vice president now directly owns 26,191 shares in the company, valued at $1,572,769.55. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $52.90, for a total value of $4,115,620.00. Following the completion of the sale, the insider now directly owns 52,309,038 shares in the company, valued at approximately $2,767,148,110.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,021,200 shares of company stock valued at $57,219,110. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on K. TD Cowen raised their target price on shares of Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. Citigroup began coverage on shares of Kellanova in a research report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 target price for the company. DA Davidson initiated coverage on shares of Kellanova in a research report on Friday, March 1st. They issued a “buy” rating and a $67.00 target price for the company. Stifel Nicolaus increased their price target on shares of Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Finally, Barclays increased their price target on shares of Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $61.46.

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.