Clark & Stuart Inc Buys Shares of 41,545 Kellanova (NYSE:K)

Clark & Stuart Inc bought a new position in shares of Kellanova (NYSE:K - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 41,545 shares of the company's stock, valued at approximately $3,364,000. Kellanova accounts for approximately 2.5% of Clark & Stuart Inc's investment portfolio, making the stock its 18th biggest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Swedbank AB lifted its holdings in Kellanova by 20.5% during the third quarter. Swedbank AB now owns 273,521 shares of the company's stock valued at $22,076,000 after purchasing an additional 46,450 shares in the last quarter. Toronto Dominion Bank lifted its stake in Kellanova by 5.1% in the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company's stock valued at $14,435,000 after buying an additional 8,686 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Kellanova by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company's stock worth $30,169,000 after buying an additional 24,067 shares during the last quarter. Barclays PLC increased its stake in Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company's stock worth $145,309,000 after buying an additional 1,033,383 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Kellanova during the third quarter valued at approximately $4,211,000. Institutional investors and hedge funds own 83.87% of the company's stock.

Analyst Upgrades and Downgrades

K has been the topic of a number of research analyst reports. Argus lowered Kellanova from a "buy" rating to a "hold" rating in a research note on Wednesday, October 2nd. StockNews.com started coverage on shares of Kellanova in a research note on Tuesday, January 7th. They set a "hold" rating on the stock. Finally, BNP Paribas cut shares of 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. 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, Kellanova has a consensus rating of "Hold" and an average target price of $76.35.

Kellanova Trading Up 0.0 %

K traded up $0.04 during trading hours on Monday, reaching $81.55. The company's stock had a trading volume of 471,179 shares, compared to its average volume of 1,709,931. The business's 50-day moving average is $80.89 and its 200-day moving average is $75.83. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The stock has a market cap of $28.11 billion, a PE ratio of 28.02, a P/E/G ratio of 2.59 and a beta of 0.37. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $81.58.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.06. The business had revenue of $3.23 billion during the quarter, compared to analysts' expectations of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company's revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 EPS. As a group, equities research analysts predict that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Monday, December 2nd. Kellanova's dividend payout ratio (DPR) is 78.35%.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $80.76, for a total value of $9,253,723.08. Following the completion of the sale, the insider now directly owns 49,680,774 shares of the company's stock, valued at $4,012,219,308.24. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 916,664 shares of company stock valued at $74,179,888. Company insiders own 1.80% of the company's stock.

Kellanova Company 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.