Nisa Investment Advisors LLC Raises Stake in Kellanova (NYSE:K)

Nisa Investment Advisors LLC raised its position in Kellanova (NYSE:K) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,794 shares of the company’s stock after acquiring an additional 2,030 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Kellanova were worth $2,412,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. MCF Advisors LLC lifted its stake in Kellanova by 96.7% in the fourth quarter. MCF Advisors LLC now owns 822 shares of the company’s stock worth $67,000 after acquiring an additional 404 shares during the last quarter. Atomi Financial Group Inc. lifted its stake in Kellanova by 13.9% in the fourth quarter. Atomi Financial Group Inc. now owns 3,631 shares of the company’s stock worth $294,000 after acquiring an additional 444 shares during the last quarter. J2 Capital Management Inc purchased a new position in Kellanova in the fourth quarter worth approximately $574,000. Aaron Wealth Advisors LLC lifted its stake in Kellanova by 2.7% in the fourth quarter. Aaron Wealth Advisors LLC now owns 7,413 shares of the company’s stock worth $600,000 after acquiring an additional 194 shares during the last quarter. Finally, HB Wealth Management LLC raised its holdings in Kellanova by 13.1% during the fourth quarter. HB Wealth Management LLC now owns 6,743 shares of the company’s stock worth $546,000 after purchasing an additional 782 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on K shares. StockNews.com started coverage on shares of Kellanova in a report on Thursday. They set a “hold” rating on the stock. Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a report on Friday, November 1st. Fifteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $76.35.

Insider Activity at Kellanova

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 shares were sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders sold 916,664 shares of company stock valued at $74,339,159. 1.80% of the stock is owned by insiders.

Kellanova Price Performance

Kellanova stock opened at $81.87 on Monday. Kellanova has a 52 week low of $52.46 and a 52 week high of $81.91. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm’s 50-day simple moving average is $81.03 and its 200 day simple moving average is $77.43. The firm has a market capitalization of $28.22 billion, a PE ratio of 28.13, a P/E/G ratio of 2.50 and a beta of 0.37.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period in the previous year, the firm earned $1.03 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. On average, equities research analysts predict that Kellanova will post 3.75 EPS for the current fiscal year.

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.