Flynn Zito Capital Management LLC Buys Shares of 4,012 Kellanova (NYSE:K)

Flynn Zito Capital Management LLC bought a new stake in Kellanova (NYSE:K) during the fourth quarter, Holdings Channel reports. The institutional investor bought 4,012 shares of the company’s stock, valued at approximately $224,000.

Several other large investors also recently made changes to their positions in K. Norges Bank bought a new stake in Kellanova during the 4th quarter valued at approximately $131,663,000. Southeastern Asset Management Inc. TN bought a new position in Kellanova in the 1st quarter valued at $87,611,000. Invesco Ltd. boosted its position in Kellanova by 29.4% in the 3rd quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock valued at $296,971,000 after buying an additional 1,132,485 shares during the last quarter. Van ECK Associates Corp boosted its position in Kellanova by 27.4% in the 3rd quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock valued at $291,061,000 after buying an additional 1,051,922 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Kellanova by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 29,353,099 shares of the company’s stock worth $1,892,981,000 after purchasing an additional 646,828 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

Shares of NYSE K traded up $0.47 during midday trading on Thursday, reaching $56.54. The company’s stock had a trading volume of 1,498,113 shares, compared to its average volume of 3,135,814. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.41 and a current ratio of 0.66. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $72.30. The business’s 50 day moving average price is $55.50 and its two-hundred day moving average price is $53.99. The company has a market cap of $19.32 billion, a P/E ratio of 20.45, a P/E/G ratio of 2.07 and a beta of 0.40.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share 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 the consensus estimate of $3.07 billion. During the same period in the previous year, the business earned $0.94 earnings per share. The firm’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts forecast that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued 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 dividend yield of 3.96%. Kellanova’s dividend payout ratio (DPR) is presently 81.45%.

Analyst Ratings Changes

K has been the subject of a number of analyst reports. DA Davidson initiated coverage on Kellanova in a research note on Friday, March 1st. They set a “buy” rating and a $67.00 price objective for the company. StockNews.com downgraded Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Wells Fargo & Company lifted their price target on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Citigroup began coverage on Kellanova in a research note on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price target on the stock. Finally, Barclays lifted their price target on Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Twelve investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Kellanova presently has an average rating of “Hold” and an average target price of $62.27.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $53.59, for a total value of $4,169,302.00. Following the sale, the insider now owns 52,853,638 shares of the company’s stock, valued at $2,832,426,460.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 933,600 shares of company stock worth $51,308,322. Corporate insiders own 1.80% of the company’s stock.

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.