Wynn Capital LLC Buys Shares of 5,891 Kellanova (NYSE:K)

Wynn Capital LLC purchased a new stake in Kellanova (NYSE:K) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,891 shares of the company’s stock, valued at approximately $329,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oakworth Capital Inc. boosted its holdings in Kellanova by 491.3% in the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after acquiring an additional 393 shares in the last quarter. Baker Avenue Asset Management LP lifted its holdings in shares of Kellanova by 205.4% in the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after purchasing an additional 341 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Kellanova by 55.1% in the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after purchasing an additional 206 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Kellanova by 339.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock worth $67,000 after acquiring an additional 928 shares during the period. Finally, Newbridge Financial Services Group Inc. increased its position in Kellanova by 95.0% in the third quarter. Newbridge Financial Services Group Inc. now owns 1,170 shares of the company’s stock worth $70,000 after buying an additional 570 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $57.76, for a total transaction of $4,493,728.00. Following the transaction, the insider now directly owns 51,920,038 shares of the company’s stock, valued at approximately $2,998,901,394.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 933,600 shares of company stock valued at $51,632,748. Corporate insiders own 1.80% of the company’s stock.

Kellanova Price Performance

Shares of K stock traded up $0.61 during mid-day trading on Wednesday, reaching $58.75. The stock had a trading volume of 2,283,171 shares, compared to its average volume of 3,096,589. Kellanova has a 12-month low of $47.63 and a 12-month high of $72.30. The company has a market cap of $20.08 billion, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 2.22 and a beta of 0.40. The business has a 50-day simple moving average of $55.76 and a 200 day simple moving average of $54.16. 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 posted its quarterly earnings data on Thursday, February 8th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 EPS. On average, sell-side analysts anticipate that Kellanova will post 3.57 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova’s dividend payout ratio is currently 81.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus boosted their target price on Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Wells Fargo & Company increased 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. Citigroup assumed coverage on Kellanova in a report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 target price on the stock. Piper Sandler increased their price target on Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Finally, JPMorgan Chase & Co. increased their price target on Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $62.27.

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.