Kellanova (NYSE:K) Shares Bought by Principal Securities Inc.

Principal Securities Inc. lifted its stake in Kellanova (NYSE:K) by 61.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,663 shares of the company’s stock after acquiring an additional 630 shares during the quarter. Principal Securities Inc.’s holdings in Kellanova were worth $135,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Stonebridge Financial Group LLC acquired a new stake in Kellanova in the fourth quarter valued at approximately $27,000. Assetmark Inc. lifted its stake in Kellanova by 26.2% during the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after purchasing an additional 131 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Kellanova during the third quarter worth approximately $55,000. New Wave Wealth Advisors LLC purchased a new position in shares of Kellanova in the 4th quarter valued at $56,000. Finally, ST Germain D J Co. Inc. increased its position in shares of Kellanova by 114.3% during the fourth quarter. ST Germain D J Co. Inc. now owns 750 shares of the company’s stock worth $61,000 after purchasing an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $82.25, for a total value of $9,424,451.75. Following the completion of the transaction, the insider now directly owns 48,076,612 shares in the company, valued at $3,954,301,337. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 1,145,830 shares of company stock worth $93,291,187 in the last three months. 1.80% of the stock is owned by company insiders.

Kellanova Trading Up 0.0 %

Shares of NYSE K opened at $82.73 on Wednesday. The stock’s 50 day moving average price is $81.63 and its two-hundred day moving average price is $80.89. Kellanova has a 52-week low of $52.46 and a 52-week high of $82.85. The stock has a market capitalization of $28.52 billion, a P/E ratio of 21.38, a PEG 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 issued its quarterly earnings data 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%. On average, analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova’s dividend payout ratio is presently 58.91%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on K shares. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research report on Friday, November 1st. Royal Bank of Canada raised shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective on the stock in a report on Tuesday, February 18th. Finally, StockNews.com started coverage on shares of Kellanova in a report on Monday. They issued a “hold” rating for the company. Thirteen analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.