CreativeOne Wealth LLC Raises Stock Position in Kellanova (NYSE:K)

CreativeOne Wealth LLC boosted its position in Kellanova (NYSE:K) by 2.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,303 shares of the company’s stock after purchasing an additional 258 shares during the quarter. CreativeOne Wealth LLC’s holdings in Kellanova were worth $1,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Swedbank AB grew its holdings in shares of Kellanova by 20.5% during the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after purchasing an additional 46,450 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Kellanova by 498.7% in the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock worth $15,049,000 after buying an additional 217,320 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Kellanova by 6.9% during the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after buying an additional 24,067 shares in the last quarter. Atria Investments Inc bought a new stake in shares of Kellanova during the 1st quarter worth $1,003,000. Finally, Tidal Investments LLC grew its position in Kellanova by 36.7% in the first quarter. Tidal Investments LLC now owns 37,451 shares of the company’s stock worth $2,145,000 after acquiring an additional 10,051 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Kellanova Trading Up 0.2 %

NYSE K opened at $81.30 on Friday. The stock has a market cap of $28.02 billion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39. Kellanova has a fifty-two week low of $51.02 and a fifty-two week high of $81.34. The stock has a 50 day simple moving average of $80.82 and a two-hundred day simple moving average of $71.26. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating 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 analysts’ expectations of $3.16 billion. During the same quarter in the previous year, the business posted $1.03 earnings per share. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. On average, analysts forecast that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.80%. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the completion of the transaction, the insider now directly owns 50,368,272 shares of the company’s stock, valued at $4,062,201,136.80. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 1,145,830 shares of company stock valued at $92,516,606. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

K has been the topic of a number of research reports. Royal Bank of Canada downgraded Kellanova from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. Bank of America raised Kellanova from a “neutral” rating to a “buy” rating and upped their target price for the stock from $62.00 to $70.00 in a research note on Friday, August 2nd. StockNews.com initiated coverage on shares of Kellanova in a research note on Thursday. They set a “hold” rating on the stock. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Friday, November 1st. Finally, Piper Sandler lifted their target price on shares of Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Kellanova currently has a consensus rating of “Hold” and a consensus price target of $76.35.

Kellanova Company 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.