Entropy Technologies LP Raises Holdings in Kellanova (NYSE:K)

Entropy Technologies LP lifted its stake in Kellanova (NYSE:K - Free Report) by 80.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,296 shares of the company's stock after buying an additional 27,692 shares during the period. Entropy Technologies LP's holdings in Kellanova were worth $5,028,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company's stock worth $27,000 after buying an additional 170 shares in the last quarter. Family Firm Inc. purchased a new position in Kellanova in the second quarter valued at about $29,000. CVA Family Office LLC lifted its position in shares of Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company's stock worth $29,000 after purchasing an additional 307 shares in the last quarter. Newbridge Financial Services Group Inc. grew its stake in Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company's stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. Finally, MCF Advisors LLC raised its holdings in Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company's stock valued at $34,000 after acquiring an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on K. Royal Bank of Canada cut Kellanova from an "outperform" rating to a "sector perform" rating and raised their target price for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. DA Davidson downgraded Kellanova from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $80.00 to $83.50 in a report on Monday, August 26th. Stifel Nicolaus lifted their price target on Kellanova from $64.00 to $76.00 and gave the company a "hold" rating in a report on Monday, August 12th. The Goldman Sachs Group began coverage on shares of Kellanova in a research note on Monday, August 12th. They set a "neutral" rating and a $75.00 target price for the company. Finally, Evercore ISI upgraded shares of Kellanova to a "hold" rating in a research note on Friday, August 2nd. Fifteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $76.35.

Kellanova Price Performance

Shares of Kellanova stock traded down $0.07 during trading on Tuesday, hitting $81.03. 1,180,216 shares of the stock traded hands, compared to its average volume of 3,048,031. The stock has a market cap of $27.93 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 2.60 and a beta of 0.39. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Kellanova has a 52 week low of $51.02 and a 52 week high of $81.34. The firm's fifty day moving average is $80.66 and its 200-day moving average is $69.34.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the company posted $1.03 EPS. Kellanova's quarterly revenue was down .7% compared to the same quarter last year. Research analysts expect that Kellanova will post 3.74 EPS for the current fiscal 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 issued a dividend of $0.57 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. Kellanova's dividend payout ratio is presently 78.35%.

Insider Buying and Selling

In other Kellanova 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 transaction of $9,253,723.08. Following the transaction, the insider now owns 49,680,774 shares in the company, valued at $4,012,219,308.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company's stock in a transaction dated 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 directly owns 50,597,438 shares of the company's stock, valued at $4,079,165,451.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $9,253,723.08. Following the sale, the insider now directly owns 49,680,774 shares in the company, valued at $4,012,219,308.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,150,064 shares of company stock valued at $92,680,265. Corporate 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.