Waterloo Capital L.P. Raises Stock Holdings in Kellanova (NYSE:K)

Waterloo Capital L.P. increased its holdings in shares of Kellanova (NYSE:K) by 10.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 27,279 shares of the company’s stock after acquiring an additional 2,601 shares during the period. Waterloo Capital L.P.’s holdings in Kellanova were worth $2,209,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Stonebridge Financial Group LLC bought a new position in Kellanova in the 4th quarter worth about $27,000. BankPlus Trust Department purchased a new stake in shares of Kellanova in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC bought a new position in Kellanova in the fourth quarter worth approximately $32,000. Flagship Wealth Advisors LLC bought a new stake in Kellanova during the 4th quarter valued at $32,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after buying an additional 173 shares during the period. Institutional investors own 83.87% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $82.44, for a total transaction of $9,446,222.52. Following the completion of the sale, the insider now owns 47,389,114 shares of the company’s stock, valued at $3,906,758,558.16. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 1,260,413 shares of company stock valued at $103,473,032. Insiders own 1.80% of the company’s stock.

Kellanova Stock Down 0.4 %

Kellanova stock opened at $82.25 on Friday. Kellanova has a 1-year low of $55.01 and a 1-year high of $83.22. The business has a fifty day moving average price of $82.31 and a 200-day moving average price of $81.40. 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 stock has a market capitalization of $28.39 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 4.21 and a beta of 0.34.

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

Kellanova Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. StockNews.com assumed coverage on Kellanova in a report on Saturday. They issued a “hold” rating for the company. Royal Bank of Canada cut shares of 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 issued a buy rating to the company’s stock. According to data from MarketBeat, Kellanova presently has a consensus rating of “Hold” and an average price target of $77.96.

About Kellanova

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.