CreativeOne Wealth LLC Buys 258 Shares of Kellanova (NYSE:K)

CreativeOne Wealth LLC increased its position in Kellanova (NYSE:K) by 2.0% during the third quarter, HoldingsChannel.com reports. The firm owned 13,303 shares of the company’s stock after acquiring an additional 258 shares during the quarter. CreativeOne Wealth LLC’s holdings in Kellanova were worth $1,074,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of K. Swedbank AB lifted its stake in shares of Kellanova by 20.5% in the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after buying an additional 46,450 shares in the last quarter. SG Americas Securities LLC lifted its position in Kellanova by 498.7% in the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock valued at $15,049,000 after acquiring an additional 217,320 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Kellanova by 6.9% during the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after purchasing an additional 24,067 shares during the last quarter. Atria Investments Inc bought a new stake in shares of Kellanova in the 1st quarter worth $1,003,000. Finally, Tidal Investments LLC raised its stake in shares of Kellanova by 36.7% in the first quarter. Tidal Investments LLC now owns 37,451 shares of the company’s stock worth $2,145,000 after purchasing an additional 10,051 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the transaction, the insider now directly owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 1,145,830 shares of company stock worth $92,516,606. 1.80% of the stock is owned by insiders.

Kellanova Trading Up 0.2 %

Shares of K stock opened at $81.30 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The stock has a fifty day simple moving average of $80.82 and a two-hundred day simple moving average of $71.26. The firm has a market capitalization of $28.02 billion, a PE ratio of 27.94, a PEG ratio of 2.61 and a beta of 0.39. Kellanova has a 52-week low of $51.02 and a 52-week high of $81.34.

Kellanova (NYSE:K) last released its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter last year, the business posted $1.03 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. On average, analysts predict that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Analysts Set New Price Targets

Several equities research analysts recently commented on K shares. The Goldman Sachs Group assumed coverage on Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective on the stock. Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and increased their price objective for the company from $62.00 to $70.00 in a research report on Friday, August 2nd. Royal Bank of Canada cut shares of Kellanova from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. StockNews.com assumed coverage on shares of Kellanova in a research note on Thursday. They set a “hold” rating for the company. Finally, Evercore ISI upgraded Kellanova to a “hold” rating in a research note on Friday, August 2nd. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $76.35.

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.