Miller Financial Services LLC Takes Position in Kellanova (NYSE:K)

Miller Financial Services LLC acquired a new stake in Kellanova (NYSE:K) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 7,045 shares of the company’s stock, valued at approximately $570,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in K. State Street Corp boosted its holdings in Kellanova by 5.2% in the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after acquiring an additional 731,273 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Kellanova by 3.0% in the third quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock valued at $541,052,000 after acquiring an additional 196,564 shares during the last quarter. Barclays PLC boosted its holdings in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Kellanova by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,680,912 shares of the company’s stock valued at $136,103,000 after acquiring an additional 50,303 shares during the last quarter. Finally, Ilex Capital Partners UK LLP boosted its holdings in Kellanova by 63.8% in the third quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock valued at $131,091,000 after acquiring an additional 632,510 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on K shares. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective on the stock in a research note on Tuesday, February 18th. StockNews.com started coverage on Kellanova in a research note on Tuesday, March 4th. They set a “hold” rating on the stock. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $77.96.

Kellanova Stock Down 0.0 %

NYSE:K opened at $82.44 on Tuesday. The firm has a market capitalization of $28.46 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The stock has a 50 day moving average of $81.95 and a 200-day moving average of $81.15. Kellanova has a 52 week low of $52.46 and a 52 week high of $83.22. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last posted its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Monday, March 3rd. Kellanova’s dividend payout ratio (DPR) is 58.91%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $80.85, for a total value of $9,264,035.55. Following the completion of the sale, the insider now directly owns 48,764,110 shares in the company, valued at $3,942,578,293.50. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 1,145,830 shares of company stock valued at $93,673,894 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

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.