Commerzbank Aktiengesellschaft FI Makes New Investment in Kellanova (NYSE:K)

Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Kellanova (NYSE:K) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,572 shares of the company’s stock, valued at approximately $256,000.

A number of other hedge funds also recently made changes to their positions in K. Comerica Bank purchased a new position in Kellanova in the third quarter valued at about $4,974,000. Raymond James & Associates lifted 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 acquiring an additional 42,656 shares in the last quarter. Soltis Investment Advisors LLC boosted its holdings in Kellanova by 25.7% in the 3rd quarter. Soltis Investment Advisors LLC now owns 46,127 shares of the company’s stock worth $2,745,000 after acquiring an additional 9,434 shares during the period. CX Institutional boosted its holdings in Kellanova by 52.9% in the 4th quarter. CX Institutional now owns 59,975 shares of the company’s stock worth $3,353,000 after acquiring an additional 20,752 shares during the period. Finally, Savoir Faire Capital Management L.P. acquired a new stake in Kellanova in the third quarter valued at approximately $3,248,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $54.68, for a total value of $4,254,104.00. Following the completion of the transaction, the insider now directly owns 52,775,838 shares in the company, valued at $2,885,782,821.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders have sold 933,600 shares of company stock valued at $51,632,748. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on K. StockNews.com lowered shares of Kellanova from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Wells Fargo & Company lifted their target price on Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. DA Davidson started coverage on Kellanova in a report on Friday, March 1st. They issued a “buy” rating and a $67.00 price target for the company. Citigroup started coverage on Kellanova in a research note on Thursday, February 1st. They set a “neutral” rating and a $57.00 price objective for the company. Finally, Barclays upped their target price on Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Kellanova has a consensus rating of “Hold” and an average target price of $62.27.

Kellanova Stock Performance

Shares of K stock opened at $57.98 on Tuesday. The company has a market cap of $19.82 billion, a P/E ratio of 21.08, a PEG ratio of 2.14 and a beta of 0.40. The business has a 50 day moving average of $55.68 and a two-hundred day moving average of $54.10. Kellanova has a 52 week low of $47.63 and a 52 week high of $72.30. The company has a quick ratio of 0.41, a current ratio of 0.66 and a debt-to-equity ratio of 1.51.

Kellanova (NYSE:K) last issued its earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. The firm 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 period last year, the company earned $0.94 earnings per share. As a group, analysts anticipate that Kellanova will post 3.57 EPS 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 given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova’s dividend payout ratio is currently 81.45%.

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.