Anchor Capital Advisors LLC Buys Shares of 696,458 Kellanova (NYSE:K)

Anchor Capital Advisors LLC bought a new stake in Kellanova (NYSE:K) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 696,458 shares of the company’s stock, valued at approximately $38,939,000. Anchor Capital Advisors LLC owned 0.20% of Kellanova as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Louisiana State Employees Retirement System acquired a new position in shares of Kellanova during the 4th quarter worth $889,000. Comerica Bank acquired a new position in shares of Kellanova during the 3rd quarter worth $4,974,000. Raymond James & Associates increased its position in Kellanova by 11.9% during the 4th quarter. Raymond James & Associates now owns 400,371 shares of the company’s stock worth $22,385,000 after purchasing an additional 42,656 shares in the last quarter. Soltis Investment Advisors LLC increased its position in Kellanova by 25.7% during the 3rd quarter. Soltis Investment Advisors LLC now owns 46,127 shares of the company’s stock worth $2,745,000 after purchasing an additional 9,434 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in Kellanova by 29.0% during the 4th quarter. Handelsbanken Fonder AB now owns 180,783 shares of the company’s stock worth $10,108,000 after purchasing an additional 40,656 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Up 0.8 %

Kellanova stock traded up $0.48 during mid-day trading on Monday, hitting $58.21. The company’s stock had a trading volume of 2,957,053 shares, compared to its average volume of 3,097,931. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. Kellanova has a 52-week low of $47.63 and a 52-week high of $72.30. The firm’s 50 day moving average is $55.96 and its 200 day moving average is $54.33. The company has a market cap of $19.89 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 2.21 and a beta of 0.40.

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

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.56 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.24 annualized dividend and a yield of 3.85%. Kellanova’s payout ratio is 81.45%.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $53.62, for a total value of $4,171,636.00. Following the completion of the sale, the insider now owns 52,698,038 shares in the company, valued at approximately $2,825,668,797.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 855,800 shares of company stock worth $47,378,644 in the last 90 days. 1.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

K has been the subject of several recent analyst reports. Citigroup initiated coverage on Kellanova in a report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price target for the company. Piper Sandler boosted their target price on Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Stifel Nicolaus boosted their target price on Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. boosted their target price on Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Finally, StockNews.com cut Kellanova from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and a consensus target price of $62.27.

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.