Flynn Zito Capital Management LLC Acquires Shares of 4,012 Kellanova (NYSE:K)

Flynn Zito Capital Management LLC bought a new stake in shares of Kellanova (NYSE:K) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,012 shares of the company’s stock, valued at approximately $224,000.

A number of other large investors have also recently made changes to their positions in the stock. Daiwa Securities Group Inc. boosted its stake in shares of Kellanova by 5.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 25,009 shares of the company’s stock valued at $1,398,000 after purchasing an additional 1,347 shares during the period. KLCM Advisors Inc. increased its holdings in shares of Kellanova by 847.0% during the fourth quarter. KLCM Advisors Inc. now owns 43,448 shares of the company’s stock valued at $2,429,000 after acquiring an additional 38,860 shares in the last quarter. Everence Capital Management Inc. increased its holdings in Kellanova by 114.9% in the 4th quarter. Everence Capital Management Inc. now owns 12,810 shares of the company’s stock worth $716,000 after buying an additional 6,850 shares during the period. LifePlan Financial LLC acquired a new position in Kellanova in the 4th quarter worth approximately $238,000. Finally, London & Capital Asset Management Ltd increased its holdings in Kellanova by 1.6% in the 4th quarter. London & Capital Asset Management Ltd now owns 417,702 shares of the company’s stock worth $23,354,000 after buying an additional 6,593 shares during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

K has been the topic of several research reports. DA Davidson initiated coverage on shares of Kellanova in a report on Friday, March 1st. They issued a “buy” rating and a $67.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. Citigroup initiated coverage on Kellanova in a research report on Thursday, February 1st. They set a “neutral” rating and a $57.00 target price on the stock. Barclays increased 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. Finally, Stifel Nicolaus increased their target price on Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $62.27.

Kellanova Stock Performance

NYSE K traded up $0.47 on Thursday, reaching $56.54. The stock had a trading volume of 1,498,113 shares, compared to its average volume of 3,135,814. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.41 and a current ratio of 0.66. Kellanova has a 12-month low of $47.63 and a 12-month high of $72.30. The business’s 50-day moving average price is $55.50 and its 200 day moving average price is $53.99. The stock has a market cap of $19.32 billion, a P/E ratio of 20.45, a price-to-earnings-growth ratio of 2.07 and a beta of 0.40.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Kellanova’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.94 earnings per share. As a group, equities analysts expect that Kellanova will post 3.57 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.56 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.24 annualized dividend and a dividend yield of 3.96%. Kellanova’s dividend payout ratio is currently 81.45%.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $57.46, for a total transaction of $4,470,388.00. Following the transaction, the insider now directly owns 52,075,638 shares in the company, valued at $2,992,266,159.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have sold 933,600 shares of company stock worth $51,308,322. 1.80% of the stock is owned by company insiders.

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.