NBC Securities Inc. Buys 4,384 Shares of Kellanova (NYSE:K)

NBC Securities Inc. grew its stake in shares of Kellanova (NYSE:K - Free Report) by 109,600.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 4,388 shares of the company's stock after acquiring an additional 4,384 shares during the quarter. NBC Securities Inc.'s holdings in Kellanova were worth $361,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of K. Caprock Group LLC lifted its position in shares of Kellanova by 11.6% during the 4th quarter. Caprock Group LLC now owns 3,349 shares of the company's stock valued at $271,000 after acquiring an additional 348 shares during the period. Spire Wealth Management lifted its position in shares of Kellanova by 55.9% during the 4th quarter. Spire Wealth Management now owns 1,377 shares of the company's stock worth $111,000 after buying an additional 494 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Kellanova by 29.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,849 shares of the company's stock worth $2,421,000 after buying an additional 6,731 shares during the last quarter. Bleakley Financial Group LLC bought a new stake in shares of Kellanova during the 4th quarter worth $250,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Kellanova during the 4th quarter worth $1,311,000. 83.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on K. Wall Street Zen downgraded Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Royal Bank of Canada downgraded Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Finally, Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 price objective for the company in a research report on Thursday, May 29th. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $79.75.

Kellanova Price Performance

Kellanova stock opened at $82.06 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $28.47 billion, a PE ratio of 21.20, a P/E/G ratio of 4.21 and a beta of 0.30. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. The stock has a 50-day moving average price of $82.33 and a two-hundred day moving average price of $81.90.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The company's quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 EPS. Analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.78%. Kellanova's payout ratio is 57.58%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $82.31, for a total value of $9,431,326.73. Following the completion of the sale, the insider now owns 47,503,697 shares of the company's stock, valued at approximately $3,910,029,300.07. This represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 1,260,413 shares of company stock valued at $103,715,948. Company insiders own 1.80% of the company's stock.

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.

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