Coastwise Capital Group LLC Buys Shares of 3,316 Kellanova (NYSE:K)

Coastwise Capital Group LLC acquired a new stake in Kellanova (NYSE:K) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,316 shares of the company’s stock, valued at approximately $268,000.

Several other institutional investors have also added to or reduced their stakes in the business. Benjamin Edwards Inc. purchased a new stake in shares of Kellanova during the 3rd quarter valued at approximately $636,000. Athos Capital Ltd purchased a new stake in shares of Kellanova during the third quarter worth $7,304,000. Bardin Hill Management Partners LP bought a new position in shares of Kellanova in the third quarter worth $10,416,000. Paloma Partners Management Co bought a new position in shares of Kellanova in the third quarter worth $534,000. Finally, Erste Asset Management GmbH bought a new stake in shares of Kellanova during the 3rd quarter valued at $7,864,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the sale, the insider now directly owns 49,222,442 shares in the company, valued at $3,997,354,514.82. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 1,145,830 shares of company stock valued at $92,516,606 in the last 90 days. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on K shares. Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company increased their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Barclays raised their price target on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. DA Davidson cut shares of Kellanova from a “buy” rating to a “neutral” rating and upped their price target for the stock from $80.00 to $83.50 in a report on Monday, August 26th. Finally, Stifel Nicolaus boosted their target price on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $76.35.

Kellanova Price Performance

K opened at $81.29 on Monday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. Kellanova has a 1 year low of $51.02 and a 1 year high of $81.34. The stock’s 50 day simple moving average is $80.82 and its 200 day simple moving average is $71.39. The firm has a market cap of $28.02 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 2.61 and a beta of 0.39.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 EPS. As a group, analysts predict that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s payout ratio is 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.