Integrated Investment Consultants LLC Takes $950,000 Position in Kellanova (NYSE:K)

Integrated Investment Consultants LLC bought a new position in shares of Kellanova (NYSE:K) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 11,766 shares of the company’s stock, valued at approximately $950,000.

A number of other institutional investors have also recently bought and sold shares of K. Grandfield & Dodd LLC bought a new stake in shares of Kellanova in the third quarter valued at approximately $225,000. Advisors Asset Management Inc. boosted its stake in shares of Kellanova by 6.7% in the third quarter. Advisors Asset Management Inc. now owns 31,551 shares of the company’s stock valued at $2,546,000 after buying an additional 1,984 shares during the period. Factorial Partners LLC boosted its stake in shares of Kellanova by 8.2% in the third quarter. Factorial Partners LLC now owns 22,500 shares of the company’s stock valued at $1,816,000 after buying an additional 1,700 shares during the period. Alpine Associates Management Inc. bought a new stake in shares of Kellanova in the third quarter valued at approximately $25,561,000. Finally, Prospera Private Wealth LLC bought a new stake in shares of Kellanova in the third quarter valued at approximately $232,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Piper Sandler increased their price objective on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a report on Thursday, August 15th. Bank of America upgraded Kellanova from a “neutral” rating to a “buy” rating and increased their price objective for the company from $62.00 to $70.00 in a report on Friday, August 2nd. Evercore ISI upgraded Kellanova to a “hold” rating in a report on Friday, August 2nd. Finally, Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Kellanova has a consensus rating of “Hold” and an average target price of $76.35.

Kellanova Stock Performance

Shares of K opened at $80.96 on Friday. 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 stock has a 50-day moving average of $80.76 and a 200-day moving average of $70.50. The company has a market cap of $27.91 billion, a PE ratio of 27.82, a P/E/G ratio of 2.59 and a beta of 0.39. Kellanova has a one year low of $51.02 and a one year high of $81.34.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter last year, the firm earned $1.03 EPS. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. On average, equities research analysts predict that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.82%. Kellanova’s payout ratio is 78.35%.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $80.99, for a total value of $9,280,077.17. Following the completion of the transaction, the insider now directly owns 49,337,025 shares in the company, valued at approximately $3,995,805,654.75. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 1,109,047 shares of company stock valued at $89,483,556 in the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

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.