J2 Capital Management Inc Invests $574,000 in Kellanova (NYSE:K)

J2 Capital Management Inc bought a new position in Kellanova (NYSE:K - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,090 shares of the company's stock, valued at approximately $574,000.

Several other institutional investors have also recently added to or reduced their stakes in K. American Century Companies Inc. raised its stake in Kellanova by 14.7% during the 2nd quarter. American Century Companies Inc. now owns 36,893 shares of the company's stock worth $2,128,000 after buying an additional 4,737 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Kellanova by 2.2% during the second quarter. Envestnet Asset Management Inc. now owns 211,081 shares of the company's stock worth $12,175,000 after purchasing an additional 4,566 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Kellanova by 11.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company's stock worth $150,909,000 after purchasing an additional 277,171 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Kellanova by 15.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 46,285 shares of the company's stock valued at $2,669,000 after purchasing an additional 6,252 shares during the period. Finally, Blair William & Co. IL raised its holdings in Kellanova by 4.1% during the second quarter. Blair William & Co. IL now owns 31,407 shares of the company's stock worth $1,812,000 after buying an additional 1,232 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

K has been the topic of a number of analyst reports. StockNews.com initiated coverage on shares of Kellanova in a report on Wednesday. They issued a "hold" rating on the stock. BNP Paribas cut Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 target price on the stock. in a research report on Friday, November 1st. Finally, Argus downgraded shares of Kellanova from a "buy" rating to a "hold" rating in a report on Wednesday, October 2nd. Fifteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Kellanova currently has an average rating of "Hold" and an average price target of $76.35.

Kellanova Stock Performance

NYSE K traded up $0.17 during trading on Friday, hitting $81.73. 2,647,218 shares of the company's stock traded hands, compared to its average volume of 1,723,373. The stock has a market capitalization of $28.17 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 2.49 and a beta of 0.37. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The business has a 50 day moving average of $80.95 and a 200-day moving average of $76.54. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.79.

Kellanova (NYSE:K - Get Free Report) last announced 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 net margin of 7.85% and a return on equity of 37.05%. The company had revenue of $3.23 billion for the quarter, compared to analysts' expectations of $3.16 billion. During the same period in the prior year, the company posted $1.03 EPS. Kellanova's revenue was down .7% compared to the same quarter last year. As a group, equities research analysts anticipate that Kellanova will post 3.75 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.79%. Kellanova's dividend payout ratio (DPR) is 78.35%.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the completion of the transaction, the insider now directly owns 48,878,693 shares in the company, valued at $3,941,577,803.52. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 1,031,247 shares of company stock worth $83,509,236 in the last quarter. 1.80% of the stock is 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.