Kellanova (NYSE:K) Shares Bought by Allworth Financial LP

Allworth Financial LP lifted its stake in shares of Kellanova (NYSE:K - Free Report) by 379.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,567 shares of the company's stock after buying an additional 23,394 shares during the quarter. Allworth Financial LP's holdings in Kellanova were worth $1,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of K. CGC Financial Services LLC bought a new position in Kellanova during the second quarter valued at approximately $27,000. Oakworth Capital Inc. boosted its stake in shares of Kellanova by 491.3% during the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company's stock worth $28,000 after acquiring an additional 393 shares during the last quarter. Norwood Financial Corp lifted its stake in shares of Kellanova by 81.8% during the 3rd quarter. Norwood Financial Corp now owns 500 shares of the company's stock valued at $30,000 after buying an additional 225 shares in the last quarter. Quilter Plc purchased a new position in shares of Kellanova during the 1st quarter valued at $498,486,000. Finally, Baker Avenue Asset Management LP lifted its stake in shares of Kellanova by 205.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company's stock valued at $30,000 after buying an additional 341 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the 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 in the company, valued at $2,832,426,460.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 855,800 shares of company stock worth $46,788,920 over the last 90 days. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

K has been the topic of a number of analyst reports. StockNews.com cut shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, February 9th. Piper Sandler lifted their price target on shares of Kellanova from $59.00 to $60.00 and gave the company a "neutral" rating in a report on Monday, February 12th. Barclays lifted their price target on shares of Kellanova from $55.00 to $60.00 and gave the company an "equal weight" rating in a report on Monday, February 12th. JPMorgan Chase & Co. lifted their price target on shares of Kellanova from $53.00 to $59.00 and gave the company a "neutral" rating in a report on Friday, February 9th. Finally, Wells Fargo & Company lifted their price target on shares of Kellanova from $56.00 to $58.00 and gave the company an "equal weight" rating in a report on Friday, February 9th. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $62.27.

Kellanova Stock Up 0.1 %

Shares of K traded up $0.03 during mid-day trading on Monday, hitting $57.48. The company's stock had a trading volume of 3,161,151 shares, compared to its average volume of 3,260,061. The company's 50-day moving average is $55.31 and its 200-day moving average is $54.11. Kellanova has a 52-week low of $47.63 and a 52-week high of $72.30. The firm has a market capitalization of $19.64 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 2.15 and a beta of 0.40. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. Kellanova's revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.94 EPS. On average, equities research analysts forecast that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.56 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.90%. Kellanova's payout ratio is currently 81.45%.

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.