Merit Financial Group LLC Boosts Stake in Kellanova (NYSE:K)

Merit Financial Group LLC increased its position in Kellanova (NYSE:K) by 29.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,952 shares of the company’s stock after purchasing an additional 1,138 shares during the quarter. Merit Financial Group LLC’s holdings in Kellanova were worth $401,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. American Century Companies Inc. increased its holdings in Kellanova by 14.7% in the 2nd quarter. American Century Companies Inc. now owns 36,893 shares of the company’s stock worth $2,128,000 after buying an additional 4,737 shares in the last quarter. AE Wealth Management LLC purchased a new stake in shares of Kellanova during the 2nd quarter valued at about $368,000. Sei Investments Co. grew its stake in shares of Kellanova by 5.3% in the second quarter. Sei Investments Co. now owns 83,392 shares of the company’s stock worth $4,810,000 after acquiring an additional 4,197 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Kellanova by 8.2% during the second quarter. Thrivent Financial for Lutherans now owns 20,250 shares of the company’s stock valued at $1,168,000 after purchasing an additional 1,538 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in Kellanova by 5.5% during the second quarter. ProShare Advisors LLC now owns 49,985 shares of the company’s stock valued at $2,883,000 after purchasing an additional 2,609 shares during the period. 83.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on K shares. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. StockNews.com initiated coverage on Kellanova in a report on Thursday. They issued a “hold” rating on the stock. Finally, BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research report on Friday, November 1st. Fifteen equities 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 a consensus price target of $76.35.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $80.64, for a total value of $9,239,973.12. Following the completion of the sale, the insider now owns 48,878,693 shares of the company’s stock, valued at $3,941,577,803.52. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders have sold 1,031,247 shares of company stock valued at $83,592,882. 1.80% of the stock is currently owned by company insiders.

Kellanova Trading Up 0.1 %

Shares of K stock opened at $81.87 on Friday. The stock has a market cap of $28.22 billion, a P/E ratio of 28.13, a P/E/G ratio of 2.50 and a beta of 0.37. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $81.91. The business has a fifty day simple moving average of $81.01 and a 200-day simple moving average of $77.25.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business earned $1.03 earnings per share. On average, analysts forecast that Kellanova will post 3.75 earnings per share for the current fiscal year.

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.