Kellanova (NYSE:K) Shares Purchased by Toth Financial Advisory Corp

Toth Financial Advisory Corp grew its stake in shares of Kellanova (NYSE:K) by 15.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,693 shares of the company’s stock after acquiring an additional 2,799 shares during the quarter. Toth Financial Advisory Corp’s holdings in Kellanova were worth $1,186,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Baker Avenue Asset Management LP increased its holdings in Kellanova by 205.4% in the 3rd 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 period. Motco increased its holdings in Kellanova by 757.6% in the 4th quarter. Motco now owns 566 shares of the company’s stock worth $32,000 after buying an additional 500 shares during the period. Blue Trust Inc. increased its holdings in Kellanova by 55.1% in the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after buying an additional 206 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Kellanova by 139.0% in the 4th 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 period. Finally, Northwest Financial Advisors acquired a new position in Kellanova in the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Activity at Kellanova

In related news, SVP Nicolas Amaya sold 9,800 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $60.05, for a total value of $588,490.00. Following the completion of the transaction, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $55.35, for a total value of $4,306,230.00. Following the completion of the sale, the insider now directly owns 51,997,838 shares of the company’s stock, valued at approximately $2,878,080,333.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $60.05, for a total value of $588,490.00. Following the completion of the sale, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 865,600 shares of company stock valued at $50,941,428. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on K. DA Davidson increased their price target on shares of Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. TD Cowen upped their price objective on Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. upped their price objective on Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Finally, Barclays upped their price objective on Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $61.83.

Kellanova Stock Performance

Shares of NYSE:K opened at $57.68 on Friday. Kellanova has a 1 year low of $47.63 and a 1 year high of $68.69. The firm has a market capitalization of $19.72 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 2.05 and a beta of 0.35. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. The business’s 50 day moving average price is $59.71 and its 200-day moving average price is $56.85.

Kellanova (NYSE:K) last announced its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the firm posted $1.10 EPS. The business’s revenue was down 4.2% on a year-over-year basis. On average, equities research analysts forecast that Kellanova will post 3.62 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Monday, June 3rd were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend was Monday, June 3rd. Kellanova’s dividend payout ratio is currently 83.90%.

Kellanova 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.