IFP Advisors Inc Purchases 24,597 Shares of Kellanova (NYSE:K)

IFP Advisors Inc increased its holdings in Kellanova (NYSE:K) by 146.8% during the 4th quarter, Holdings Channel reports. The firm owned 41,354 shares of the company’s stock after buying an additional 24,597 shares during the period. IFP Advisors Inc’s holdings in Kellanova were worth $3,348,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd purchased a new position in Kellanova during the 4th quarter valued at $265,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Kellanova by 15.4% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 137,085 shares of the company’s stock valued at $11,100,000 after purchasing an additional 18,300 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after buying an additional 173 shares during the period. Olympiad Research LP raised its stake in Kellanova by 24.8% in the fourth quarter. Olympiad Research LP now owns 31,017 shares of the company’s stock worth $2,511,000 after buying an additional 6,157 shares in the last quarter. Finally, RPS Advisory Solutions LLC bought a new position in shares of Kellanova in the 4th quarter worth approximately $397,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $82.25, for a total transaction of $9,424,451.75. Following the completion of the sale, the insider now directly owns 48,076,612 shares in the company, valued at approximately $3,954,301,337. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 1,145,830 shares of company stock worth $93,291,187 in the last ninety days. Insiders own 1.80% of the company’s stock.

Kellanova Price Performance

Shares of NYSE:K opened at $82.71 on Tuesday. The business has a 50-day simple moving average of $81.59 and a two-hundred day simple moving average of $80.83. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The firm has a market cap of $28.51 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $82.75.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. On average, analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.76%. Kellanova’s dividend payout ratio (DPR) is currently 58.91%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on K. StockNews.com started coverage on shares of Kellanova in a research note on Monday. They issued a “hold” rating for the company. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a report on Friday, November 1st. Finally, Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target for the company in a research report on Tuesday, February 18th. 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, the company currently has a consensus rating of “Hold” and an average target price of $77.96.

Kellanova Company 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.