6,778 Shares in Kellanova (NYSE:K) Purchased by PFG Investments LLC

PFG Investments LLC purchased a new position in shares of Kellanova (NYSE:K) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,778 shares of the company’s stock, valued at approximately $388,000.

Other institutional investors also recently made changes to their positions in the company. Oakworth Capital Inc. grew its holdings in shares of Kellanova by 491.3% during the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock valued at $28,000 after buying an additional 393 shares in the last quarter. Baker Avenue Asset Management LP grew its stake in Kellanova by 205.4% during the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after buying an additional 341 shares during the last quarter. Motco increased its holdings in shares of Kellanova by 757.6% in the fourth quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after purchasing an additional 500 shares in the last quarter. Blue Trust Inc. increased its position in Kellanova by 55.1% in the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after purchasing an additional 206 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Kellanova by 139.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 736 shares of the company’s stock worth $41,000 after buying an additional 428 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $53.67, for a total transaction of $4,175,526.00. Following the completion of the sale, the insider now directly owns 52,620,238 shares in the company, valued at $2,824,128,173.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 933,600 shares of company stock valued at $51,891,044. 1.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Wells Fargo & Company raised their price objective on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Barclays boosted their price objective on shares of Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. DA Davidson assumed coverage on shares of Kellanova in a research note on Friday, March 1st. They issued a “buy” rating and a $67.00 price objective for the company. Finally, StockNews.com cut Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $62.27.

Kellanova Stock Performance

Kellanova stock traded down $0.35 during mid-day trading on Tuesday, reaching $57.86. The company’s stock had a trading volume of 4,672,857 shares, compared to its average volume of 3,121,030. Kellanova has a 12-month low of $47.63 and a 12-month high of $72.30. The firm’s fifty day moving average price is $56.05 and its two-hundred day moving average price is $54.45. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.41 and a current ratio of 0.66. The company has a market capitalization of $19.77 billion, a P/E ratio of 21.04, a PEG ratio of 2.21 and a beta of 0.40.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 EPS. Sell-side analysts predict that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.87%. The ex-dividend date is Monday, June 3rd. Kellanova’s dividend payout ratio is 81.45%.

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.