NewSquare Capital LLC Grows Holdings in Kellanova (NYSE:K)

NewSquare Capital LLC boosted its holdings in shares of Kellanova (NYSE:K) by 7.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 117,794 shares of the company’s stock after purchasing an additional 7,670 shares during the period. NewSquare Capital LLC’s holdings in Kellanova were worth $6,484,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Invesco Ltd. increased its holdings in shares of Kellanova by 29.4% in the 3rd quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock valued at $296,971,000 after purchasing an additional 1,132,485 shares in the last quarter. Van ECK Associates Corp grew its stake in Kellanova by 27.4% in the 3rd quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock valued at $291,061,000 after acquiring an additional 1,051,922 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Kellanova by 738.6% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 420,781 shares of the company’s stock valued at $23,522,000 after purchasing an additional 370,607 shares in the last quarter. Deutsche Bank AG lifted its holdings in Kellanova by 27.4% in the 3rd quarter. Deutsche Bank AG now owns 1,607,621 shares of the company’s stock valued at $95,670,000 after purchasing an additional 345,830 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Kellanova by 8.7% during the third quarter. Northern Trust Corp now owns 4,116,944 shares of the company’s stock worth $244,999,000 after acquiring an additional 328,658 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

K has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price target on shares of Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. DA Davidson started coverage on shares of Kellanova in a research report on Friday, March 1st. They set a “buy” rating and a $67.00 target price for the company. Barclays increased their price objective on shares of Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. 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. Finally, StockNews.com cut Kellanova from a “buy” rating to a “hold” 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $62.27.

Kellanova Stock Up 0.3 %

Kellanova stock traded up $0.17 during midday trading on Tuesday, hitting $58.15. The stock had a trading volume of 1,903,995 shares, compared to its average volume of 3,106,929. The business has a fifty day moving average price of $55.68 and a 200 day moving average price of $54.10. Kellanova has a 12 month low of $47.63 and a 12 month high of $72.30. The stock has a market cap of $19.87 billion, a P/E ratio of 21.08, a P/E/G ratio of 2.14 and a beta of 0.40. 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 results on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.04. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same period in the prior year, the company posted $0.94 EPS. The business’s revenue was up .3% compared to the same quarter last year. Research analysts predict that Kellanova will post 3.57 EPS for the current year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova’s dividend payout ratio (DPR) is 81.45%.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated 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 owns 52,775,838 shares in the company, valued at approximately $2,885,782,821.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 933,600 shares of company stock valued at $51,632,748. 1.80% of the stock is currently owned by company insiders.

Kellanova Company 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.