First Horizon Advisors Inc. Acquires 173 Shares of Kellanova (NYSE:K)

First Horizon Advisors Inc. increased its holdings in shares of Kellanova (NYSE:K) by 64.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 440 shares of the company’s stock after purchasing an additional 173 shares during the period. First Horizon Advisors Inc.’s holdings in Kellanova were worth $36,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of K. Stonebridge Financial Group LLC purchased a new stake in Kellanova during the fourth quarter valued at approximately $27,000. Assetmark Inc. lifted its position in Kellanova by 26.2% during the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after acquiring an additional 131 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Kellanova during the third quarter valued at approximately $55,000. New Wave Wealth Advisors LLC purchased a new stake in Kellanova during the fourth quarter valued at approximately $56,000. Finally, ST Germain D J Co. Inc. lifted its position in Kellanova by 114.3% during the fourth quarter. ST Germain D J Co. Inc. now owns 750 shares of the company’s stock valued at $61,000 after acquiring an additional 400 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

Kellanova Stock Down 0.0 %

Shares of NYSE K opened at $82.59 on Friday. The company’s 50-day simple moving average is $81.72 and its 200-day simple moving average is $80.95. Kellanova has a 52-week low of $52.46 and a 52-week high of $82.85. The firm has a market cap of $28.51 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last announced its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) 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%. Equities analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm 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 annualized dividend and a dividend yield of 2.76%. Kellanova’s dividend payout ratio is currently 58.91%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated 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 transaction, the insider now directly owns 48,076,612 shares of the company’s stock, valued at $3,954,301,337. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 1,031,247 shares of company stock valued at $83,985,902. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. StockNews.com assumed coverage on shares of Kellanova in a research report on Monday. They set a “hold” rating for the company. BNP Paribas cut shares of 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 shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target for the company in a report on Tuesday, February 18th. Thirteen analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $77.96.

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.