Wolverine Asset Management LLC Purchases New Holdings in Kellanova (NYSE:K)

Wolverine Asset Management LLC purchased a new stake in shares of Kellanova (NYSE:K - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 22,494 shares of the company's stock, valued at approximately $1,815,000.

A number of other large investors have also added to or reduced their stakes in K. Blue Trust Inc. boosted its holdings in Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company's stock worth $27,000 after buying an additional 170 shares during the period. Family Firm Inc. acquired a new stake in Kellanova during the second quarter valued at $29,000. CVA Family Office LLC lifted its holdings in shares of Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company's stock worth $29,000 after acquiring an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. increased its position in shares of Kellanova by 61.9% in 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 during the last quarter. Finally, MCF Advisors LLC grew its position in Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company's stock worth $34,000 after purchasing an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on K shares. The Goldman Sachs Group started coverage on shares of Kellanova in a report on Monday, August 12th. They issued a "neutral" rating and a $75.00 price target for the company. Barclays lifted their price objective on Kellanova from $67.00 to $83.00 and gave the company an "equal weight" rating in a report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price target on Kellanova from $66.00 to $69.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. BNP Paribas cut Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price target on the stock. in a research note on Friday, November 1st. Finally, DA Davidson lowered Kellanova from a "buy" rating to a "neutral" rating and raised their price objective for the company from $80.00 to $83.50 in a research note on Monday, August 26th. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $76.35.

Kellanova Trading Down 0.1 %

Kellanova stock traded down $0.07 during mid-day trading on Tuesday, hitting $81.03. The company's stock had a trading volume of 1,180,211 shares, compared to its average volume of 3,048,031. Kellanova has a 12 month low of $51.02 and a 12 month high of $81.26. 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 business has a 50 day moving average price of $80.66 and a 200-day moving average price of $69.34. The stock has a market cap of $27.93 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 2.60 and a beta of 0.39.

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

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.81%. Kellanova's payout ratio is 78.35%.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the transaction, the insider now directly owns 50,753,038 shares of the company's stock, valued at approximately $4,062,780,691.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 14th. The shares were sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the transaction, the insider now directly owns 50,753,038 shares in the company, valued at approximately $4,062,780,691.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction 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 directly owns 50,482,855 shares of the company's stock, valued at approximately $4,051,249,113.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,150,064 shares of company stock worth $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.