LPL Financial LLC Increases Holdings in Kellanova (NYSE:K)

LPL Financial LLC grew its holdings in Kellanova (NYSE:K) by 0.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 106,325 shares of the company’s stock after buying an additional 842 shares during the quarter. LPL Financial LLC’s holdings in Kellanova were worth $8,609,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new position in shares of Kellanova during the fourth quarter valued at about $27,000. BankPlus Trust Department purchased a new position in shares of Kellanova during the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC purchased a new position in shares of Kellanova during the 4th quarter worth approximately $32,000. Flagship Wealth Advisors LLC bought a new position in shares of Kellanova in the 4th quarter worth approximately $32,000. Finally, First Horizon Advisors Inc. boosted 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 purchasing an additional 173 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $81.42, for a total transaction of $9,329,347.86. Following the completion of the sale, the insider now owns 48,534,944 shares in the company, valued at approximately $3,951,715,140.48. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 1,260,413 shares of company stock valued at $103,473,032 in the last 90 days. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on K. Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. StockNews.com initiated coverage on shares of Kellanova in a research report on Saturday. They set a “hold” rating for the company. Fourteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Kellanova currently has an average rating of “Hold” and a consensus target price of $77.96.

Kellanova Price Performance

Shares of K opened at $82.25 on Friday. Kellanova has a twelve month low of $55.01 and a twelve month high of $83.22. The company has a market capitalization of $28.39 billion, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The firm has a 50 day moving average of $82.31 and a 200 day moving average of $81.39. 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 posted its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, equities research analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s dividend payout ratio is currently 58.91%.

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.