J2 Capital Management Inc Makes New $574,000 Investment in Kellanova (NYSE:K)

J2 Capital Management Inc bought a new position in Kellanova (NYSE:K) during the 4th quarter, Holdings Channel.com reports. The fund bought 7,090 shares of the company’s stock, valued at approximately $574,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. CVA Family Office LLC lifted its holdings in shares of Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after acquiring an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in 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 period. MCF Advisors LLC increased its stake in Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares during the period. Capital Advisors Ltd. LLC raised its stake in shares of Kellanova by 41.4% during the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after acquiring an additional 158 shares in the last quarter. Finally, Mather Group LLC. lifted its holdings in shares of Kellanova by 71.3% in the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after buying an additional 256 shares during the period. Institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

NYSE K opened at $81.73 on Friday. The company has a market cap of $28.17 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 2.49 and a beta of 0.37. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The stock’s fifty day moving average price is $80.95 and its 200 day moving average price is $76.41. Kellanova has a 1 year low of $52.46 and a 1 year high of $81.79.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 earnings per share. As a group, equities research analysts forecast that Kellanova will post 3.75 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is currently 78.35%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 49,680,774 shares of the company’s stock, valued at approximately $4,012,219,308.24. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 1,031,247 shares of company stock worth $83,509,236 over the last 90 days. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on K shares. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. StockNews.com started coverage on Kellanova in a research note on Wednesday. They set a “hold” rating for the company. Finally, BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Friday, November 1st. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $76.35.

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.