Entropy Technologies LP Acquires 27,692 Shares of Kellanova (NYSE:K)

Entropy Technologies LP raised its holdings in shares of Kellanova (NYSE:K) by 80.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,296 shares of the company’s stock after acquiring an additional 27,692 shares during the period. Entropy Technologies LP’s holdings in Kellanova were worth $5,028,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. CVA Family Office LLC grew its holdings in shares of Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after purchasing an additional 307 shares during the last quarter. MCF Advisors LLC grew its holdings in shares of Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after purchasing an additional 137 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares during the last quarter. Family Firm Inc. bought a new position in shares of Kellanova in the second quarter worth approximately $29,000. Finally, Newbridge Financial Services Group Inc. grew its holdings in shares of Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

K has been the topic of several recent analyst reports. Barclays lifted their price target on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Stifel Nicolaus raised their price objective on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Evercore ISI raised Kellanova to a “hold” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective on Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research report on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Kellanova has an average rating of “Hold” and an average price target of $76.35.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the sale, the insider now directly owns 49,680,774 shares of the company’s stock, valued at $4,012,219,308.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $80.32, for a total transaction of $6,248,896.00. Following the completion of the transaction, the insider now owns 50,675,238 shares in the company, valued at approximately $4,070,235,116.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $80.76, for a total value of $9,253,723.08. Following the completion of the sale, the insider now owns 49,680,774 shares in the company, valued at $4,012,219,308.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,150,064 shares of company stock worth $92,680,265 over the last three months. 1.80% of the stock is currently owned by company insiders.

Kellanova Trading Up 0.1 %

Shares of K stock opened at $81.10 on Tuesday. Kellanova has a 1 year low of $51.02 and a 1 year high of $81.26. The firm has a fifty day moving average price of $80.65 and a 200-day moving average price of $69.19. The company has a market cap of $27.96 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 2.60 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the prior year, the business posted $1.03 earnings per share. The business’s quarterly revenue was down .7% on a year-over-year basis. As a group, equities analysts predict that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

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.