Proficio Capital Partners LLC Acquires New Shares in Kellanova (NYSE:K)

Proficio Capital Partners LLC acquired a new stake in Kellanova (NYSE:K) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 122,508 shares of the company’s stock, valued at approximately $9,919,000.

Other large investors have also made changes to their positions in the company. SPC Financial Inc. increased its holdings in Kellanova by 5.7% during the 4th quarter. SPC Financial Inc. now owns 2,976 shares of the company’s stock worth $241,000 after purchasing an additional 160 shares in the last quarter. Assetmark Inc. increased its holdings in Kellanova by 613.8% during the 4th quarter. Assetmark Inc. now owns 4,504 shares of the company’s stock worth $365,000 after purchasing an additional 3,873 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Kellanova by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,680,912 shares of the company’s stock worth $136,103,000 after purchasing an additional 50,303 shares in the last quarter. Silphium Asset Management Ltd increased its holdings in Kellanova by 177.8% during the 4th quarter. Silphium Asset Management Ltd now owns 250,000 shares of the company’s stock worth $20,242,000 after purchasing an additional 160,000 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Kellanova during the 4th quarter worth about $341,000. Institutional investors own 83.87% of the company’s stock.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the completion of the sale, the insider now directly owns 48,764,110 shares in the company, valued at $3,942,578,293.50. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 1,260,413 shares of company stock worth $103,099,492 over the last three months. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on K. StockNews.com began coverage on shares of Kellanova in a research note on Wednesday. They set a “hold” rating for the company. Royal Bank of Canada upgraded shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective for the company in a research note on Tuesday, February 18th. Thirteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $77.96.

Kellanova Trading Down 0.1 %

Shares of NYSE:K opened at $82.22 on Friday. Kellanova has a 52-week low of $52.53 and a 52-week high of $83.22. The company has a market capitalization of $28.38 billion, a P/E ratio of 21.24, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The company has a 50-day simple moving average of $82.05 and a 200 day simple moving average of $81.19. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81.

Kellanova (NYSE:K) last issued its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Sell-side analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

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

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.