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Barnes Dennig Private Wealth Management LLC Purchases New Shares in Kellanova (NYSE:K)

Kellanova logo with Consumer Discretionary background

Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Kellanova (NYSE:K - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 7,774 shares of the company's stock, valued at approximately $641,000. Kellanova accounts for about 1.0% of Barnes Dennig Private Wealth Management LLC's investment portfolio, making the stock its 28th largest position.

A number of other institutional investors have also made changes to their positions in K. Grove Bank & Trust acquired a new stake in Kellanova during the 1st quarter valued at approximately $25,000. MorganRosel Wealth Management LLC acquired a new stake in Kellanova in the first quarter valued at $27,000. Rialto Wealth Management LLC bought a new stake in shares of Kellanova in the 4th quarter worth about $32,000. Flagship Wealth Advisors LLC bought a new stake in Kellanova in the fourth quarter valued at about $32,000. Finally, Accredited Wealth Management LLC acquired a new position in shares of Kellanova in the 4th quarter worth approximately $36,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

K has been the subject of several recent research reports. Wall Street Zen lowered shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 price target on the stock in a research report on Thursday, May 29th. Finally, Royal Bank Of Canada lowered Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. 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, the company presently has an average rating of "Hold" and a consensus price target of $79.75.

Read Our Latest Research Report on K

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $78.42, for a total value of $8,985,598.86. Following the sale, the insider directly owned 46,128,701 shares in the company, valued at approximately $3,617,412,732.42. The trade was a 0.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 1,374,996 shares of company stock worth $112,064,466 over the last ninety days. Company insiders own 1.80% of the company's stock.

Kellanova Price Performance

Shares of K stock traded up $0.33 during midday trading on Tuesday, reaching $79.86. 4,650,706 shares of the company were exchanged, compared to its average volume of 2,983,333. The company's 50 day moving average price is $81.52 and its two-hundred day moving average price is $81.78. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.52 and a current ratio of 0.80. The company has a market cap of $27.71 billion, a P/E ratio of 20.17, a PEG ratio of 4.14 and a beta of 0.30. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22.

Kellanova (NYSE:K - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 34.80% and a net margin of 10.93%. Kellanova's revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 EPS. On average, sell-side analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.85%. Kellanova's dividend payout ratio (DPR) is 57.58%.

Kellanova Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Kellanova (NYSE:K)

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