962 Shares in Kellanova (NYSE:K) Bought by Ashton Thomas Securities LLC

Ashton Thomas Securities LLC purchased a new stake in shares of Kellanova (NYSE:K) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 962 shares of the company’s stock, valued at approximately $78,000.

Other large investors have also made changes to their positions in the company. Assetmark Inc. increased its holdings in Kellanova by 26.2% during the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after purchasing an additional 131 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Kellanova during the third quarter worth $55,000. Valley Brook Capital Group Inc. purchased a new stake in shares of Kellanova during the 3rd quarter valued at $230,000. Olympiad Research LP purchased a new stake in Kellanova during the 3rd quarter valued at about $2,006,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Kellanova by 6.9% during the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after purchasing an additional 24,067 shares during the period. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.96, for a total value of $9,276,639.68. Following the transaction, the insider now directly owns 49,795,357 shares of the company’s stock, valued at $4,031,432,102.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.96, for a total value of $9,276,639.68. Following the completion of the transaction, the insider now directly owns 49,795,357 shares in the company, valued at approximately $4,031,432,102.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $80.32, for a total transaction of $6,248,896.00. Following the completion of the transaction, the insider now directly owns 50,675,238 shares of the company’s stock, valued at approximately $4,070,235,116.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,072,264 shares of company stock worth $86,452,375. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on K. Piper Sandler raised their target price on Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a report on Thursday, August 15th. BNP Paribas downgraded 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. JPMorgan Chase & Co. boosted their price target on shares of Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. StockNews.com assumed coverage on Kellanova in a report on Tuesday. They issued a “hold” rating for the company. Finally, Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $76.35.

Kellanova Stock Performance

Shares of K opened at $81.03 on Wednesday. The company has a market capitalization of $27.93 billion, a PE ratio of 27.85, a P/E/G ratio of 2.60 and a beta of 0.39. Kellanova has a 52-week low of $51.02 and a 52-week high of $81.34. The company has a 50-day simple moving average of $80.66 and a 200-day simple moving average of $69.34. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping 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 analyst estimates of $3.16 billion. During the same period in the previous year, the firm earned $1.03 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts predict that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s dividend payout ratio is currently 78.35%.

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.