Element Wealth LLC Invests $205,000 in Kellanova (NYSE:K)

Element Wealth LLC purchased a new position in Kellanova (NYSE:K) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,538 shares of the company’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Swedbank AB increased its holdings in Kellanova by 20.5% in the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after buying an additional 46,450 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Kellanova by 4.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock worth $14,705,000 after acquiring an additional 10,676 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Kellanova by 498.7% during the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock worth $15,049,000 after acquiring an additional 217,320 shares in the last quarter. M&G Plc bought a new stake in Kellanova in the first quarter worth $9,346,000. Finally, Atria Investments Inc purchased a new position in shares of Kellanova in the 1st quarter worth $1,003,000. 83.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on K shares. Barclays raised their price objective on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Bank of America upgraded 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 report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft lifted their target price on Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research note on Thursday, August 15th. Stifel Nicolaus increased their target price on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Finally, DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and upped their price objective for the company from $80.00 to $83.50 in a report on Monday, August 26th. Fifteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $74.32.

Kellanova Price Performance

K stock opened at $81.02 on Friday. The firm has a 50 day moving average of $80.58 and a 200-day moving average of $67.15. The company has a market cap of $27.70 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 2.59 and a beta of 0.39. Kellanova has a 12-month low of $49.79 and a 12-month high of $81.26. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46.

Kellanova (NYSE:K) last released its earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. Kellanova’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.25 EPS. As a group, equities analysts expect that Kellanova will post 3.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $74.01, for a total transaction of $5,757,978.00. Following the transaction, the insider now owns 50,830,838 shares of the company’s stock, valued at $3,761,990,320.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.96, for a total transaction of $9,276,639.68. Following the sale, the insider now owns 49,795,357 shares in the company, valued at approximately $4,031,432,102.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $74.01, for a total transaction of $5,757,978.00. Following the completion of the transaction, the insider now directly owns 50,830,838 shares of the company’s stock, valued at $3,761,990,320.38. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,191,081 shares of company stock worth $93,637,014 over the last quarter. 1.80% of the stock is owned by corporate insiders.

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.