Wrapmanager Inc. Takes $208,000 Position in Kellanova (NYSE:K)

Wrapmanager Inc. purchased a new stake in Kellanova (NYSE:K) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,724 shares of the company’s stock, valued at approximately $208,000.

Other large investors have also modified their holdings of the company. Stratos Wealth Partners LTD. increased its holdings in shares of Kellanova by 9.1% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 5,444 shares of the company’s stock valued at $324,000 after acquiring an additional 452 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Kellanova by 25.6% in the 3rd quarter. Mackenzie Financial Corp now owns 186,750 shares of the company’s stock valued at $11,113,000 after acquiring an additional 38,037 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in shares of Kellanova by 3.9% in the 3rd quarter. IFM Investors Pty Ltd now owns 55,757 shares of the company’s stock valued at $3,318,000 after acquiring an additional 2,116 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Kellanova by 5.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 135,079 shares of the company’s stock valued at $7,877,000 after acquiring an additional 7,551 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new position in shares of Kellanova in the 3rd quarter valued at about $309,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on K shares. TD Cowen increased their price objective on Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. raised their price target on Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Wells Fargo & Company raised their price target on Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. Piper Sandler raised their price target on Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Finally, StockNews.com downgraded Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Twelve investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $61.85.

Kellanova Stock Performance

Kellanova stock traded up $0.26 during mid-day trading on Friday, reaching $61.86. 2,188,221 shares of the company were exchanged, compared to its average volume of 3,237,198. Kellanova has a twelve month low of $47.63 and a twelve month high of $71.19. The firm’s 50-day simple moving average is $56.67 and its two-hundred day simple moving average is $54.90. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62. The firm has a market cap of $21.15 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 2.32 and a beta of 0.39.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period last year, the firm earned $1.10 EPS. Equities analysts predict that Kellanova will post 3.58 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be issued a $0.56 dividend. The ex-dividend date is Monday, June 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.62%. Kellanova’s dividend payout ratio is currently 83.90%.

Insider Activity

In related news, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction on Monday, May 6th. The stock was 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 of the company’s stock, valued at $1,572,769.55. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was 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 owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $53.67, for a total value of $4,175,526.00. Following the transaction, the insider now directly owns 52,620,238 shares of the company’s stock, valued at approximately $2,824,128,173.46. The disclosure for this sale can be found here. Insiders sold 943,400 shares of company stock valued at $53,047,474 in the last three months. 1.80% of the stock is currently owned by company insiders.

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.