Metis Global Partners LLC Boosts Stake in Kellanova (NYSE:K)

Metis Global Partners LLC lifted its position in Kellanova (NYSE:K) by 9.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,579 shares of the company’s stock after purchasing an additional 2,043 shares during the quarter. Metis Global Partners LLC’s holdings in Kellanova were worth $1,262,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Oakworth Capital Inc. raised its stake in Kellanova by 491.3% during the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock valued at $28,000 after acquiring an additional 393 shares during the last quarter. Baker Avenue Asset Management LP raised its stake in shares of Kellanova by 205.4% during the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after purchasing an additional 341 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after purchasing an additional 206 shares during the period. Massmutual Trust Co. FSB ADV grew its position in Kellanova by 339.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock valued at $67,000 after buying an additional 928 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd increased its stake in Kellanova by 1,450.0% in the 3rd quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,550 shares of the company’s stock valued at $92,000 after buying an additional 1,450 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

K stock opened at $62.33 on Thursday. The stock has a 50-day moving average price of $56.42 and a two-hundred day moving average price of $54.80. Kellanova has a 12-month low of $47.63 and a 12-month high of $71.53. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34. The company has a market cap of $21.31 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 2.32 and a beta of 0.39.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the business earned $1.10 earnings per share. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. As a group, research analysts predict that Kellanova will post 3.58 EPS for the current year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, June 3rd. Kellanova’s payout ratio is 83.90%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on K. DA Davidson started coverage on Kellanova in a report on Friday, March 1st. They set a “buy” rating and a $67.00 price objective on the stock. Citigroup began coverage on shares of Kellanova in a research note on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price objective for the company. StockNews.com lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Wells Fargo & Company lifted their price target on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. Finally, TD Cowen upped their price target on Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Kellanova currently has a consensus rating of “Hold” and a consensus target price of $61.46.

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 dated Friday, February 9th. The stock was sold at an average price of $53.62, for a total value of $4,171,636.00. Following the completion of the sale, the insider now owns 52,698,038 shares of the company’s stock, valued at $2,825,668,797.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Nicolas Amaya sold 9,800 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $60.05, for a total value of $588,490.00. Following the completion of the transaction, the senior vice president now owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $53.62, for a total value of $4,171,636.00. Following the completion of the transaction, the insider now directly owns 52,698,038 shares of the company’s stock, valued at approximately $2,825,668,797.56. The disclosure for this sale can be found here. Insiders sold 1,021,200 shares of company stock valued at $57,219,110 over the last quarter. Company 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.