KLCM Advisors Inc. Purchases 38,860 Shares of Kellanova (NYSE:K)

KLCM Advisors Inc. lifted its position in Kellanova (NYSE:K) by 847.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,448 shares of the company’s stock after purchasing an additional 38,860 shares during the quarter. KLCM Advisors Inc.’s holdings in Kellanova were worth $2,429,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Oakworth Capital Inc. increased its stake in Kellanova by 491.3% during the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after acquiring an additional 393 shares during the last quarter. Norwood Financial Corp increased its stake in Kellanova by 81.8% during the third quarter. Norwood Financial Corp now owns 500 shares of the company’s stock worth $30,000 after acquiring an additional 225 shares during the last quarter. Baker Avenue Asset Management LP increased its stake in 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 acquiring an additional 341 shares during the last quarter. Cowa LLC bought a new stake in Kellanova during the first quarter worth approximately $33,000. Finally, Blue Trust Inc. increased its stake in Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after acquiring an additional 206 shares during the last quarter. 83.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

K has been the topic of a number of analyst reports. Barclays upped 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. Wells Fargo & Company boosted their price target on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Piper Sandler boosted their price target on Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Citigroup assumed coverage on Kellanova in a report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price target for the company. Finally, StockNews.com lowered Kellanova from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $62.27.

Kellanova Stock Performance

Shares of NYSE K traded up $0.11 during trading on Wednesday, reaching $55.51. 2,295,197 shares of the company traded hands, compared to its average volume of 2,664,497. The firm’s fifty day simple moving average is $55.46 and its 200 day simple moving average is $53.97. The stock has a market cap of $18.97 billion, a P/E ratio of 20.19, a PEG ratio of 2.07 and a beta of 0.40. Kellanova has a 12-month low of $47.63 and a 12-month 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.

Kellanova (NYSE:K) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $3.07 billion. During the same quarter last year, the business posted $0.94 EPS. The company’s revenue was up .3% on a year-over-year basis. As a group, research analysts anticipate that Kellanova will post 3.57 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Thursday, February 29th. Kellanova’s dividend payout ratio (DPR) is presently 81.45%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $55.35, for a total transaction of $4,306,230.00. Following the sale, the insider now owns 51,997,838 shares of the company’s stock, valued at approximately $2,878,080,333.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 933,600 shares of company stock worth $51,308,322 in the last ninety days. 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.