3,316 Shares in Kellanova (NYSE:K) Acquired by Coastwise Capital Group LLC

Coastwise Capital Group LLC purchased a new stake in shares of Kellanova (NYSE:K) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 3,316 shares of the company’s stock, valued at approximately $268,000.

Several other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in Kellanova by 11.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock valued at $150,909,000 after acquiring an additional 277,171 shares during the period. Yacktman Asset Management LP boosted its holdings in shares of Kellanova by 0.5% in the second quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock worth $123,546,000 after buying an additional 10,510 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in Kellanova by 766.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock valued at $108,532,000 after buying an additional 1,664,461 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Kellanova by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,630,609 shares of the company’s stock valued at $131,606,000 after buying an additional 35,268 shares during the last quarter. Finally, Maverick Capital Ltd. bought a new position in Kellanova in the second quarter worth approximately $88,065,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective for the company. Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research note on Thursday, August 15th. Royal Bank of Canada lowered shares of Kellanova from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. Finally, Wells Fargo & Company increased their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.35.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $81.21, for a total value of $9,305,285.43. Following the completion of the sale, the insider now directly owns 49,222,442 shares of the company’s stock, valued at $3,997,354,514.82. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 1,145,830 shares of company stock worth $92,516,606 in the last three months. Insiders own 1.80% of the company’s stock.

Kellanova Stock Up 0.2 %

Shares of K stock opened at $81.29 on Monday. The company’s fifty day simple moving average is $80.82 and its two-hundred day simple moving average is $71.39. Kellanova has a 52 week low of $51.02 and a 52 week high of $81.34. The stock has a market cap of $28.02 billion, a P/E ratio of 27.93, a PEG ratio of 2.61 and a beta of 0.39. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the prior year, the firm earned $1.03 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. Analysts predict that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.80%. Kellanova’s payout ratio is currently 78.35%.

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.