ORG Partners LLC Grows Stake in Kellanova (NYSE:K)

ORG Partners LLC lifted its position in Kellanova (NYSE:K) by 680.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,732 shares of the company’s stock after buying an additional 1,510 shares during the period. ORG Partners LLC’s holdings in Kellanova were worth $97,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of K. International Assets Investment Management LLC grew its position in Kellanova by 0.3% in the first quarter. International Assets Investment Management LLC now owns 51,858 shares of the company’s stock worth $170,000 after acquiring an additional 159 shares in the last quarter. Castleview Partners LLC boosted its position in shares of Kellanova by 5.4% during the first quarter. Castleview Partners LLC now owns 3,218 shares of the company’s stock valued at $215,000 after buying an additional 164 shares during the period. Moors & Cabot Inc. boosted its position in shares of Kellanova by 1.7% during the first quarter. Moors & Cabot Inc. now owns 10,272 shares of the company’s stock valued at $662,000 after buying an additional 169 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in shares of Kellanova by 2.7% during the third quarter. Mercer Global Advisors Inc. ADV now owns 6,744 shares of the company’s stock valued at $470,000 after buying an additional 178 shares during the period. Finally, M&T Bank Corp boosted its position in shares of Kellanova by 0.5% during the third quarter. M&T Bank Corp now owns 38,834 shares of the company’s stock valued at $2,707,000 after buying an additional 189 shares during the period. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on K shares. Piper Sandler boosted their target price on Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Citigroup started coverage on Kellanova in a research report on Thursday, February 1st. They set a “neutral” rating and a $57.00 target price for the company. Stifel Nicolaus boosted their target price on Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. boosted their target price on Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Finally, Barclays lifted their price target on shares of Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $62.27.

Kellanova Stock Performance

Shares of NYSE:K opened at $55.42 on Monday. The company has a market capitalization of $18.94 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 2.07 and a beta of 0.40. Kellanova has a 52 week low of $47.63 and a 52 week high of $72.30. The company has a quick ratio of 0.41, a current ratio of 0.66 and a debt-to-equity ratio of 1.51. The firm has a 50 day moving average of $55.41 and a 200 day moving average of $54.03.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. Kellanova’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 earnings per share. On average, sell-side analysts predict that Kellanova will post 3.57 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Thursday, February 29th. Kellanova’s payout ratio is presently 81.45%.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $54.72, for a total transaction of $4,257,216.00. Following the transaction, the insider now directly owns 52,931,438 shares of the company’s stock, valued at $2,896,408,287.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 933,600 shares of company stock valued at $51,259,308. Corporate insiders own 1.80% of the company’s stock.

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.