NewSquare Capital LLC Purchases 7,670 Shares of Kellanova (NYSE:K)

NewSquare Capital LLC grew its position in shares of Kellanova (NYSE:K) by 7.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 117,794 shares of the company’s stock after acquiring an additional 7,670 shares during the quarter. NewSquare Capital LLC’s holdings in Kellanova were worth $6,484,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of K. Oakworth Capital Inc. raised 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 period. Baker Avenue Asset Management LP lifted its position in Kellanova by 205.4% in the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after buying an additional 341 shares during the last quarter. Blue Trust Inc. boosted its stake in Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after buying an additional 206 shares during the period. Newbridge Financial Services Group Inc. increased its position in Kellanova by 95.0% during the third quarter. Newbridge Financial Services Group Inc. now owns 1,170 shares of the company’s stock valued at $70,000 after acquiring an additional 570 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Kellanova by 339.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock valued at $67,000 after acquiring an additional 928 shares during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $52.90, for a total value of $4,115,620.00. Following the completion of the sale, the insider now owns 52,309,038 shares of the company’s stock, valued at $2,767,148,110.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold 933,600 shares of company stock valued at $51,632,748 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Kellanova Stock Up 0.3 %

NYSE K traded up $0.17 during midday trading on Tuesday, hitting $58.15. 1,903,995 shares of the company traded hands, compared to its average volume of 3,106,929. Kellanova has a 52 week low of $47.63 and a 52 week high of $72.30. The company’s 50-day simple moving average is $55.68 and its 200-day simple moving average is $54.10. The company has a market cap of $19.87 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 2.14 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 (NYSE:K) last posted its earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter in the prior year, the company posted $0.94 earnings per share. Kellanova’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, equities research analysts forecast that Kellanova will post 3.57 earnings per share for the current year.

Kellanova Announces Dividend

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

Analyst Upgrades and Downgrades

K has been the topic of a number of analyst reports. Citigroup began coverage on Kellanova in a research note on Thursday, February 1st. They set a “neutral” rating and a $57.00 target price on the stock. Barclays lifted their target price on Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. JPMorgan Chase & Co. upped their price target on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Stifel Nicolaus raised 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. Finally, StockNews.com cut shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and an average target price of $62.27.

About Kellanova

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.