GAMMA Investing LLC Acquires 1,774 Shares of Kellanova $K

GAMMA Investing LLC lifted its holdings in Kellanova (NYSE:K) by 25.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,663 shares of the company’s stock after acquiring an additional 1,774 shares during the period. GAMMA Investing LLC’s holdings in Kellanova were worth $689,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Financial Counselors Inc. bought a new position in shares of Kellanova in the 1st quarter valued at about $522,000. IFM Investors Pty Ltd lifted its holdings in shares of Kellanova by 11.6% in the 1st quarter. IFM Investors Pty Ltd now owns 57,241 shares of the company’s stock valued at $4,620,000 after acquiring an additional 5,957 shares during the last quarter. Retirement Guys Formula LLC bought a new position in shares of Kellanova in the 1st quarter valued at about $934,000. Syquant Capital Sas lifted its holdings in shares of Kellanova by 39.9% in the 1st quarter. Syquant Capital Sas now owns 511,400 shares of the company’s stock valued at $42,185,000 after acquiring an additional 145,900 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Kellanova by 12.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,596 shares of the company’s stock valued at $2,771,000 after acquiring an additional 3,747 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on K. Citigroup raised shares of Kellanova to a “neutral” rating and set a $83.50 price objective for the company in a research note on Thursday, May 29th. JPMorgan Chase & Co. began coverage on shares of Kellanova in a research note on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 price objective for the company. Finally, Wall Street Zen downgraded shares of Kellanova from a “hold” rating to a “sell” rating in a research note on Sunday. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $83.38.

Kellanova Stock Performance

Kellanova stock opened at $76.97 on Thursday. The company has a 50 day moving average price of $79.51 and a 200-day moving average price of $80.85. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68. Kellanova has a fifty-two week low of $76.48 and a fifty-two week high of $83.22. The company has a market capitalization of $26.76 billion, a PE ratio of 20.20, a P/E/G ratio of 4.80 and a beta of 0.27.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.05). Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same period in the prior year, the firm posted $1.01 EPS. The business’s revenue was up .3% on a year-over-year basis. As a group, equities analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.58 per share. This is a boost from Kellanova’s previous quarterly dividend of $0.57. This represents a $2.32 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, September 2nd. Kellanova’s payout ratio is presently 60.89%.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of Kellanova stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the completion of the sale, the insider owned 45,097,438 shares of the company’s stock, valued at approximately $3,587,501,192.90. The trade was a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 916,680 shares of company stock worth $73,093,769 over the last ninety days. Insiders own 1.80% of the company’s stock.

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.