DT Investment Partners LLC Has $856,000 Stock Position in Kellanova (NYSE:K)

DT Investment Partners LLC decreased its position in shares of Kellanova (NYSE:K) by 9.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,482 shares of the company’s stock after selling 1,599 shares during the period. DT Investment Partners LLC’s holdings in Kellanova were worth $856,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of K. Oakworth Capital Inc. boosted its position in Kellanova by 491.3% during the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock valued at $28,000 after purchasing an additional 393 shares during the last quarter. Norwood Financial Corp raised its holdings in Kellanova by 81.8% during the third quarter. Norwood Financial Corp now owns 500 shares of the company’s stock valued at $30,000 after buying an additional 225 shares in the last quarter. Baker Avenue Asset Management LP raised its holdings in Kellanova by 205.4% during the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after buying an additional 341 shares in the last quarter. Cowa LLC bought a new position in Kellanova during the first quarter valued at about $33,000. Finally, Blue Trust Inc. raised its holdings in Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after buying an additional 206 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on K. Barclays raised their target price on Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. DA Davidson assumed coverage on Kellanova in a research note on Friday, March 1st. They set a “buy” rating and a $67.00 price target on the stock. Piper Sandler boosted their price target on Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. JPMorgan Chase & Co. boosted their price target on Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Finally, StockNews.com lowered Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $62.27.

Kellanova Price Performance

Shares of K traded up $0.84 on Friday, hitting $57.38. The company’s stock had a trading volume of 2,798,198 shares, compared to its average volume of 2,379,795. The company has a market capitalization of $19.61 billion, a PE ratio of 20.87, a PEG ratio of 2.11 and a beta of 0.40. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $72.30. The company has a 50 day moving average price of $55.61 and a 200 day moving average price of $54.04.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter in the prior year, the business earned $0.94 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. On average, research analysts anticipate that Kellanova will post 3.57 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova’s payout ratio is 81.45%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $53.59, for a total transaction of $4,169,302.00. Following the completion of the sale, the insider now owns 52,853,638 shares in the company, valued at approximately $2,832,426,460.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 933,600 shares of company stock worth $51,308,322. Insiders own 1.80% of the company’s stock.

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.