International Assets Investment Management LLC Makes New $63,000 Investment in Kellanova (NYSE:K)

International Assets Investment Management LLC acquired a new stake in shares of Kellanova (NYSE:K) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,091 shares of the company’s stock, valued at approximately $63,000.

A number of other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. lifted its stake 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 acquiring an additional 170 shares in the last quarter. Bfsg LLC boosted its stake in shares of Kellanova by 64.5% during the 1st quarter. Bfsg LLC now owns 510 shares of the company’s stock valued at $29,000 after buying an additional 200 shares during the last quarter. Family Firm Inc. purchased a new position in shares of Kellanova during the 2nd quarter valued at approximately $29,000. BNP Paribas acquired a new stake in shares of Kellanova during the first quarter worth approximately $30,000. Finally, Motco increased its stake in shares of Kellanova by 757.6% in the fourth quarter. Motco now owns 566 shares of the company’s stock worth $32,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $57.89, for a total value of $4,503,842.00. Following the completion of the sale, the insider now owns 51,375,438 shares of the company’s stock, valued at $2,974,124,105.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 855,800 shares of company stock worth $55,663,566. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

K has been the topic of a number of research analyst reports. The Goldman Sachs Group started coverage on shares of Kellanova in a research note on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective on the stock. BNP Paribas upgraded Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price target for the company in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a report on Thursday, August 15th. Wells Fargo & Company lifted their target price on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Finally, Stifel Nicolaus upped their price target on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Fourteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $74.32.

Kellanova Stock Up 0.0 %

Kellanova stock opened at $80.19 on Thursday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. Kellanova has a one year low of $47.63 and a one year high of $80.97. The company has a 50-day simple moving average of $66.73 and a 200-day simple moving average of $60.96. The firm has a market capitalization of $27.42 billion, a P/E ratio of 30.03, a P/E/G ratio of 2.59 and a beta of 0.34.

Kellanova (NYSE:K) last posted its earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. Kellanova’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 EPS. As a group, equities analysts expect that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.57 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $2.28 annualized dividend and a yield of 2.84%. This is an increase from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s payout ratio is presently 85.39%.

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.