Avalon Trust Co Makes New Investment in Kellanova (NYSE:K)

Avalon Trust Co purchased a new position in Kellanova (NYSE:K) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 750 shares of the company’s stock, valued at approximately $62,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Financial Counselors Inc. purchased a new stake in shares of Kellanova during the first quarter valued at $522,000. Aviva PLC lifted its holdings in shares of Kellanova by 2.6% during the fourth quarter. Aviva PLC now owns 542,709 shares of the company’s stock valued at $43,943,000 after purchasing an additional 13,531 shares during the last quarter. IFM Investors Pty Ltd lifted its holdings in shares of Kellanova by 11.6% during the first quarter. IFM Investors Pty Ltd now owns 57,241 shares of the company’s stock valued at $4,620,000 after purchasing an additional 5,957 shares during the last quarter. Retirement Guys Formula LLC purchased a new stake in shares of Kellanova during the first quarter valued at $934,000. Finally, Syquant Capital Sas lifted its holdings in shares of Kellanova by 39.9% during the first quarter. Syquant Capital Sas now owns 511,400 shares of the company’s stock valued at $42,185,000 after purchasing an additional 145,900 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

K opened at $79.90 on Monday. Kellanova has a 12-month low of $61.47 and a 12-month high of $83.22. The firm has a market capitalization of $27.78 billion, a P/E ratio of 20.97, a price-to-earnings-growth ratio of 4.93 and a beta of 0.27. The stock’s 50 day moving average price is $80.24 and its two-hundred day moving average price is $81.57. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.05). Kellanova had a return on equity of 32.54% and a net margin of 10.56%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period in the previous year, the business posted $1.01 EPS. Kellanova’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.58 dividend. This is an increase from Kellanova’s previous quarterly dividend of $0.57. This represents a $2.32 annualized dividend and a yield of 2.9%. Kellanova’s payout ratio is presently 59.84%.

Analyst Ratings Changes

Several equities research analysts have recently commented on K shares. Wall Street Zen downgraded Kellanova from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Citigroup raised Kellanova to a “neutral” rating and set a $83.50 price objective for the company in a research note on Thursday, May 29th. Twelve research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $81.80.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, July 21st. The stock was sold at an average price of $79.92, for a total transaction of $9,157,473.36. Following the completion of the sale, the insider owned 45,670,369 shares in the company, valued at $3,649,975,890.48. The trade was a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 1,374,996 shares of company stock valued at $110,891,136. Insiders own 1.80% of the company’s stock.

Kellanova 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.