Diversified Trust Co Acquires 32,361 Shares of Kellanova (NYSE:K)

Diversified Trust Co raised its stake in Kellanova (NYSE:K - Free Report) by 61.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 85,120 shares of the company's stock after acquiring an additional 32,361 shares during the quarter. Diversified Trust Co's holdings in Kellanova were worth $4,877,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Baker Avenue Asset Management LP raised its holdings in shares of Kellanova by 205.4% in the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company's stock worth $30,000 after acquiring an additional 341 shares during the last quarter. Motco raised its holdings in shares of Kellanova by 757.6% in the fourth quarter. Motco now owns 566 shares of the company's stock worth $32,000 after acquiring an additional 500 shares during the last quarter. Blue Trust Inc. increased its stake in Kellanova by 55.1% in the fourth quarter. Blue Trust Inc. now owns 580 shares of the company's stock valued at $34,000 after purchasing an additional 206 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Kellanova by 139.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 736 shares of the company's stock valued at $41,000 after purchasing an additional 428 shares during the last quarter. Finally, Northwest Financial Advisors acquired a new position in Kellanova in the fourth quarter valued at $42,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Kellanova

In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of the company's stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the sale, the senior vice president now owns 26,191 shares in the company, valued at $1,572,769.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Nicolas Amaya sold 9,800 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the sale, the senior vice president now directly owns 26,191 shares in the company, valued at approximately $1,572,769.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $57.46, for a total value of $4,470,388.00. Following the sale, the insider now owns 52,075,638 shares in the company, valued at $2,992,266,159.48. The disclosure for this sale can be found here. Insiders have sold 865,600 shares of company stock worth $50,941,428 over the last quarter. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Barclays upped their target price on Kellanova from $60.00 to $64.00 and gave the company an "equal weight" rating in a research note on Monday, May 6th. TD Cowen upped their target price on Kellanova from $57.00 to $62.00 and gave the company a "hold" rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. upped their target price on Kellanova from $59.00 to $66.00 and gave the company a "neutral" rating in a research note on Friday, May 3rd. Finally, DA Davidson upped their target price on Kellanova from $67.00 to $72.00 and gave the company a "buy" rating in a research note on Thursday, May 9th. Eleven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $61.83.

Kellanova Stock Down 1.7 %

K traded down $0.96 on Monday, reaching $56.72. The company's stock had a trading volume of 2,345,520 shares, compared to its average volume of 2,935,797. The stock has a market cap of $19.39 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 2.04 and a beta of 0.35. Kellanova has a 1 year low of $47.63 and a 1 year high of $68.69. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. The business's 50 day moving average is $59.71 and its 200 day moving average is $56.86.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.16. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. Kellanova's revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.10 earnings per share. As a group, research analysts forecast that Kellanova will post 3.62 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend was Monday, June 3rd. Kellanova's payout ratio is currently 83.90%.

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.