Greenwood Capital Associates LLC Invests $1.46 Million in Kellanova (NYSE:K)

Greenwood Capital Associates LLC bought a new position in Kellanova (NYSE:K - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 18,048 shares of the company's stock, valued at approximately $1,457,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Swedbank AB lifted its position in shares of Kellanova by 20.5% in the 3rd quarter. Swedbank AB now owns 273,521 shares of the company's stock worth $22,076,000 after purchasing an additional 46,450 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in shares of Kellanova by 4.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company's stock worth $14,705,000 after purchasing an additional 10,676 shares during the period. SG Americas Securities LLC lifted its position in shares of Kellanova by 498.7% in the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company's stock worth $15,049,000 after purchasing an additional 217,320 shares during the period. M&G Plc purchased a new position in Kellanova during the 1st quarter valued at about $9,346,000. Finally, Atria Investments Inc purchased a new position in Kellanova during the 1st quarter valued at about $1,003,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Kellanova in a research report on Monday, August 12th. They set a "neutral" rating and a $75.00 price target for the company. Argus cut shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Wednesday, October 2nd. Bank of America raised shares of Kellanova from a "neutral" rating to a "buy" rating and lifted their price target for the company from $62.00 to $70.00 in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of Kellanova from $66.00 to $69.00 and gave the company a "neutral" rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company lifted their price target on shares of Kellanova from $76.00 to $83.50 and gave the company an "equal weight" rating in a research report on Thursday, August 15th. Sixteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $74.96.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business's stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $74.01, for a total transaction of $5,757,978.00. Following the completion of the sale, the insider now directly owns 50,830,838 shares in the company, valued at approximately $3,761,990,320.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $74.01, for a total value of $5,757,978.00. Following the completion of the transaction, the insider now directly owns 50,830,838 shares in the company, valued at $3,761,990,320.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the completion of the transaction, the insider now owns 50,482,855 shares of the company's stock, valued at approximately $4,051,249,113.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,227,864 shares of company stock worth $98,438,243. 1.80% of the stock is owned by company insiders.

Kellanova Stock Performance

Shares of K stock traded up $0.26 during trading hours on Tuesday, reaching $80.86. The company had a trading volume of 2,074,740 shares, compared to its average volume of 3,071,285. The business has a fifty day moving average price of $80.64 and a 200-day moving average price of $68.70. Kellanova has a one year low of $50.81 and a one year high of $81.26. The firm has a market cap of $27.87 billion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 2.56 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77.

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, topping 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 firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the previous year, the business posted $1.03 earnings per share. The business's revenue for the quarter was down .7% on a year-over-year basis. Sell-side analysts predict that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.82%. Kellanova's dividend payout ratio (DPR) 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.