Lifeworks Advisors LLC Purchases 1,372 Shares of Kellanova (NYSE:K)

Lifeworks Advisors LLC raised its position in Kellanova (NYSE:K) by 18.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,626 shares of the company’s stock after purchasing an additional 1,372 shares during the quarter. Lifeworks Advisors LLC’s holdings in Kellanova were worth $698,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Larson Financial Group LLC raised its stake in shares of Kellanova by 51.6% during the fourth quarter. Larson Financial Group LLC now owns 1,254 shares of the company’s stock valued at $102,000 after acquiring an additional 427 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Kellanova in the fourth quarter valued at $227,000. Machina Capital S.A.S. bought a new position in Kellanova during the 4th quarter worth $948,000. Andra AP fonden lifted its holdings in Kellanova by 59.6% during the 4th quarter. Andra AP fonden now owns 305,600 shares of the company’s stock worth $24,744,000 after buying an additional 114,100 shares during the period. Finally, Ashton Thomas Private Wealth LLC grew its position in shares of Kellanova by 9.3% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 15,500 shares of the company’s stock valued at $1,255,000 after buying an additional 1,315 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $80.70, for a total transaction of $9,246,848.10. Following the completion of the sale, the insider now owns 49,107,859 shares in the company, valued at approximately $3,963,004,221.30. The trade was a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 1,260,413 shares of company stock worth $102,920,742. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on K shares. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective on the stock in a research note on Tuesday, February 18th. StockNews.com assumed coverage on shares of Kellanova in a research report on Tuesday, March 4th. They issued a “hold” rating on the stock. Thirteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Kellanova currently has an average rating of “Hold” and an average target price of $77.96.

Kellanova Stock Performance

Shares of K stock opened at $82.45 on Friday. The firm has a 50 day moving average of $81.92 and a 200-day moving average of $81.13. The company has a market cap of $28.46 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. Kellanova has a 52 week low of $52.46 and a 52 week high of $83.22.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share 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%. On average, equities analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Monday, March 3rd. Kellanova’s dividend payout ratio (DPR) is currently 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.