Significant Wealth Partners LLC Invests $348,000 in Kellanova (NYSE:K)

Significant Wealth Partners LLC purchased a new position in shares of Kellanova (NYSE:K) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,229 shares of the company’s stock, valued at approximately $348,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Naples Global Advisors LLC increased its holdings in Kellanova by 1.7% in the 4th quarter. Naples Global Advisors LLC now owns 11,696 shares of the company’s stock valued at $654,000 after purchasing an additional 200 shares during the last quarter. Huntington National Bank increased its holdings in Kellanova by 1.6% in the 3rd quarter. Huntington National Bank now owns 12,808 shares of the company’s stock valued at $762,000 after purchasing an additional 204 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Kellanova by 0.7% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 30,836 shares of the company’s stock valued at $1,835,000 after purchasing an additional 206 shares during the last quarter. Blue Trust Inc. increased its holdings in Kellanova by 55.1% in the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after purchasing an additional 206 shares during the last quarter. Finally, Kennedy Investment Group increased its holdings in Kellanova by 1.2% in the 4th quarter. Kennedy Investment Group now owns 18,520 shares of the company’s stock valued at $1,035,000 after purchasing an additional 218 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Price Performance

Kellanova stock opened at $57.98 on Tuesday. Kellanova has a 12-month low of $47.63 and a 12-month high of $72.30. The stock has a market cap of $19.82 billion, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 2.14 and a beta of 0.40. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51. The company has a fifty day simple moving average of $55.68 and a 200-day simple moving average of $54.10.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same period in the previous year, the company earned $0.94 earnings per share. Kellanova’s quarterly revenue was up .3% compared to the same quarter last year. Equities analysts expect that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.56 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.24 dividend on an annualized basis and a yield of 3.86%. Kellanova’s dividend payout ratio (DPR) is presently 81.45%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on K shares. Barclays raised their price target on shares of Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Stifel Nicolaus raised their price target on shares of Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. DA Davidson started coverage on shares of Kellanova in a research report on Friday, March 1st. They issued a “buy” rating and a $67.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Finally, Citigroup started coverage on shares of Kellanova in a research report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price target for the company. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Kellanova currently has an average rating of “Hold” and an average price target of $62.27.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $53.62, for a total value of $4,171,636.00. Following the completion of the sale, the insider now directly owns 52,698,038 shares of the company’s stock, valued at $2,825,668,797.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 933,600 shares of company stock valued at $51,632,748 over the last ninety days. Insiders own 1.80% of the company’s stock.

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.