SG Americas Securities LLC Invests $3.79 Million in Kellanova (NYSE:K)

SG Americas Securities LLC acquired a new stake in shares of Kellanova (NYSE:K - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 45,983 shares of the company's stock, valued at approximately $3,793,000.

A number of other institutional investors also recently added to or reduced their stakes in K. Stonebridge Financial Group LLC bought a new stake in shares of Kellanova during the 4th quarter valued at $27,000. BankPlus Trust Department bought a new position in Kellanova in the 4th quarter valued at about $28,000. Rialto Wealth Management LLC bought a new position in Kellanova in the 4th quarter valued at about $32,000. Flagship Wealth Advisors LLC bought a new position in shares of Kellanova during the fourth quarter worth approximately $32,000. Finally, First Horizon Advisors Inc. boosted its position in shares of Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock worth $36,000 after acquiring an additional 173 shares in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Stock Down 0.4%

NYSE K traded down $0.35 during trading hours on Friday, reaching $79.87. 4,243,205 shares of the company's stock traded hands, compared to its average volume of 2,834,249. Kellanova has a 52-week low of $55.96 and a 52-week high of $83.22. The firm has a market cap of $27.71 billion, a PE ratio of 20.64, a PEG ratio of 4.21 and a beta of 0.30. The firm has a 50-day simple moving average of $82.22 and a 200 day simple moving average of $81.90. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56.

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

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.85%. Kellanova's dividend payout ratio (DPR) is currently 57.58%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Citigroup upgraded shares of Kellanova to a "neutral" rating and set a $83.50 price target on the stock in a report on Thursday, May 29th. Wall Street Zen downgraded shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Finally, Royal Bank of Canada cut shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $79.75.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $82.31, for a total transaction of $9,431,326.73. Following the completion of the sale, the insider now directly owns 47,503,697 shares in the company, valued at approximately $3,910,029,300.07. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 1,260,413 shares of company stock valued at $103,673,553 in the last three months. Company insiders own 1.80% of the company's stock.

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.