Summit Securities Group LLC Makes New Investment in Kellanova (NYSE:K)

Summit Securities Group LLC bought a new position in Kellanova (NYSE:K) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,700 shares of the company’s stock, valued at approximately $138,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans grew its stake in Kellanova by 7.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 21,682 shares of the company’s stock valued at $1,750,000 after purchasing an additional 1,432 shares during the period. Quantbot Technologies LP purchased a new position in shares of Kellanova during the third quarter worth approximately $378,000. Townsquare Capital LLC bought a new stake in Kellanova in the third quarter worth $414,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Kellanova during the third quarter valued at approximately $4,843,000. Finally, CreativeOne Wealth LLC increased its position in shares of Kellanova by 2.0% in the third quarter. CreativeOne Wealth LLC now owns 13,303 shares of the company’s stock valued at $1,074,000 after acquiring an additional 258 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $80.85, for a total value of $9,264,035.55. Following the completion of the sale, the insider now directly owns 48,764,110 shares in the company, valued at $3,942,578,293.50. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 1,374,996 shares of company stock valued at $112,737,068 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Kellanova Price Performance

NYSE:K opened at $82.43 on Friday. The firm has a market capitalization of $28.45 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 4.21 and a beta of 0.31. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The business has a 50 day simple moving average of $82.24 and a 200-day simple moving average of $81.33. Kellanova has a 1 year low of $55.01 and a 1 year high of $83.22.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Equities analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s payout ratio is currently 58.91%.

Analyst Ratings Changes

A number of research analysts have weighed in on K shares. StockNews.com started coverage on Kellanova in a report on Friday. They set a “hold” rating on the stock. Royal Bank of Canada cut Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Fourteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $77.96.

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.