CoreFirst Bank & Trust Purchases Shares of 745 Kellanova (NYSE:K)

CoreFirst Bank & Trust acquired a new position in Kellanova (NYSE:K) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 745 shares of the company’s stock, valued at approximately $60,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of K. Westchester Capital Management LLC purchased a new position in Kellanova in the 3rd quarter worth approximately $107,795,000. Barclays PLC raised its position in shares of Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after buying an additional 1,033,383 shares during the last quarter. State Street Corp boosted its position in shares of Kellanova by 5.2% during the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after acquiring an additional 731,273 shares during the last quarter. Ilex Capital Partners UK LLP boosted its position in shares of Kellanova by 63.8% during the third quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock worth $131,091,000 after acquiring an additional 632,510 shares during the last quarter. Finally, Cibc World Markets Corp increased its holdings in Kellanova by 538.6% in the 4th quarter. Cibc World Markets Corp now owns 585,691 shares of the company’s stock valued at $47,423,000 after acquiring an additional 493,976 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.85, for a total value of $9,264,035.55. Following the transaction, the insider now directly owns 48,764,110 shares in the company, valued at approximately $3,942,578,293.50. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 1,260,413 shares of company stock worth $103,290,845 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

K has been the subject of several research reports. Royal Bank of Canada downgraded shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. StockNews.com assumed coverage on Kellanova in a research note on Thursday, March 20th. They set a “hold” rating for the company. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $77.96.

Kellanova Stock Performance

NYSE K opened at $82.38 on Wednesday. The company has a market cap of $28.44 billion, a P/E ratio of 21.29, a P/E/G ratio of 4.21 and a beta of 0.31. The business’s 50 day moving average price is $82.18 and its 200-day moving average price is $81.29. Kellanova has a fifty-two week low of $55.01 and a fifty-two week high of $83.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Sell-side analysts predict that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s payout ratio is currently 58.91%.

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.