Kennon Green & Company LLC Has $222,000 Holdings in Kellanova (NYSE:K)

Kennon Green & Company LLC lessened its holdings in Kellanova (NYSE:K) by 6.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,845 shares of the company’s stock after selling 275 shares during the quarter. Kennon Green & Company LLC’s holdings in Kellanova were worth $222,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Norges Bank bought a new stake in Kellanova during the fourth quarter valued at $150,184,000. Vanguard Group Inc. grew its position in shares of Kellanova by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock valued at $1,797,525,000 after acquiring an additional 1,130,582 shares during the period. Boston Partners increased its position in Kellanova by 117.1% in the first quarter. Boston Partners now owns 1,278,079 shares of the company’s stock worth $73,221,000 after buying an additional 689,395 shares during the last quarter. Beutel Goodman & Co Ltd. increased its holdings in Kellanova by 15.5% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock worth $273,504,000 after acquiring an additional 655,686 shares during the last quarter. Finally, Clearbridge Investments LLC purchased a new position in shares of Kellanova in the fourth quarter worth about $35,372,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Up 0.5 %

Shares of NYSE:K opened at $80.68 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46. The stock has a fifty day simple moving average of $69.97 and a two-hundred day simple moving average of $62.10. Kellanova has a 12-month low of $47.63 and a 12-month high of $80.97. The stock has a market capitalization of $27.62 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 2.57 and a beta of 0.39.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 earnings per share. On average, research analysts anticipate that Kellanova will post 3.7 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were given a $0.57 dividend. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. Kellanova’s payout ratio is 85.39%.

Wall Street Analysts Forecast Growth

K has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price objective on Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Bank of America raised Kellanova from a “neutral” rating to a “buy” rating and raised their price objective for the company from $62.00 to $70.00 in a report on Friday, August 2nd. Stifel Nicolaus boosted their price target on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. The Goldman Sachs Group began coverage on Kellanova in a research report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price objective for the company. Finally, Barclays increased their target price on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Fourteen equities research 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, Kellanova has an average rating of “Hold” and an average target price of $74.32.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $80.62, for a total value of $6,272,236.00. Following the sale, the insider now owns 50,597,438 shares in the company, valued at $4,079,165,451.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the completion of the sale, the insider now directly owns 50,482,855 shares of the company’s stock, valued at $4,051,249,113.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the transaction, the insider now owns 50,597,438 shares in the company, valued at approximately $4,079,165,451.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 892,583 shares of company stock worth $60,355,010. Company 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.