DDD Partners LLC Makes New $15.61 Million Investment in Kellanova (NYSE:K)

DDD Partners LLC acquired a new position in shares of Kellanova (NYSE:K) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 279,127 shares of the company’s stock, valued at approximately $15,606,000. Kellanova comprises 2.1% of DDD Partners LLC’s investment portfolio, making the stock its 21st biggest holding. DDD Partners LLC owned approximately 0.08% of Kellanova at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of K. Norges Bank acquired a new position in shares of Kellanova in the 4th quarter worth approximately $131,663,000. Southeastern Asset Management Inc. TN acquired a new position in shares of Kellanova in the 1st quarter worth approximately $87,611,000. Invesco Ltd. grew its position in shares of Kellanova by 29.4% in the 3rd quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock worth $296,971,000 after acquiring an additional 1,132,485 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Kellanova by 27.4% in the 3rd quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock worth $291,061,000 after acquiring an additional 1,051,922 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Kellanova by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 29,353,099 shares of the company’s stock worth $1,892,981,000 after acquiring an additional 646,828 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling 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 Thursday, March 14th. The stock was sold at an average price of $52.90, for a total transaction of $4,115,620.00. Following the completion of the sale, the insider now owns 52,309,038 shares in the company, valued at approximately $2,767,148,110.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold 855,800 shares of company stock worth $46,722,790 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Stock Performance

Shares of K stock opened at $56.65 on Thursday. Kellanova has a 1-year low of $47.63 and a 1-year high of $72.30. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $19.36 billion, a price-to-earnings ratio of 20.60, a P/E/G ratio of 2.09 and a beta of 0.40. The stock’s fifty day simple moving average is $54.78 and its 200-day simple moving average is $54.29.

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

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.56 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.24 dividend on an annualized basis and a yield of 3.95%. Kellanova’s dividend payout ratio (DPR) is currently 81.45%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on K shares. Piper Sandler boosted their price objective on Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Wells Fargo & Company boosted their price objective on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. Stifel Nicolaus lifted their target price on Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. lifted their target price on Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Finally, Barclays lifted their target price on 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $62.27.

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.