J2 Capital Management Inc Makes New $574,000 Investment in Kellanova (NYSE:K)

J2 Capital Management Inc acquired a new stake in shares of Kellanova (NYSE:K) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,090 shares of the company’s stock, valued at approximately $574,000.

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

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $80.76, for a total value of $9,253,723.08. Following the transaction, the insider now owns 49,680,774 shares of the company’s stock, valued at approximately $4,012,219,308.24. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 1,031,247 shares of company stock valued at $83,509,236 in the last 90 days. 1.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Kellanova Stock Up 0.2 %

K stock opened at $81.73 on Friday. The business has a 50 day moving average of $80.95 and a 200 day moving average of $76.41. The firm has a market cap of $28.17 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 2.49 and a beta of 0.37. Kellanova has a twelve month low of $52.46 and a twelve month high of $81.79. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last issued its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. On average, research analysts forecast that Kellanova will post 3.75 EPS for the current fiscal year.

Kellanova Announces Dividend

The business 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 annualized dividend and a yield of 2.79%. The ex-dividend date was Monday, December 2nd. Kellanova’s dividend payout ratio is currently 78.35%.

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.