Kellanova (NYSE:K) Stock Position Raised by D.A. Davidson & CO.

D.A. Davidson & CO. boosted its position in shares of Kellanova (NYSE:K) by 11.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,455 shares of the company’s stock after purchasing an additional 2,347 shares during the period. D.A. Davidson & CO.’s holdings in Kellanova were worth $1,818,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its position in Kellanova by 2.9% during the fourth quarter. CIBC Asset Management Inc now owns 49,301 shares of the company’s stock valued at $3,992,000 after buying an additional 1,400 shares during the period. Strategic Financial Concepts LLC acquired a new position in Kellanova during the fourth quarter valued at $1,311,000. Principal Securities Inc. raised its position in Kellanova by 61.0% during the fourth quarter. Principal Securities Inc. now owns 1,663 shares of the company’s stock valued at $135,000 after buying an additional 630 shares during the period. Rhumbline Advisers raised its position in Kellanova by 1.3% during the fourth quarter. Rhumbline Advisers now owns 627,336 shares of the company’s stock valued at $50,795,000 after buying an additional 7,824 shares during the period. Finally, WASHINGTON TRUST Co raised its position in Kellanova by 11.9% during the fourth quarter. WASHINGTON TRUST Co now owns 1,884 shares of the company’s stock valued at $153,000 after buying an additional 200 shares during the period. 83.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on K. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research report on Friday, November 1st. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price on the stock in a research report on Tuesday, February 18th. Finally, StockNews.com began coverage on Kellanova in a research report on Sunday, February 16th. They issued a “hold” rating on the stock. Thirteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $77.96.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Friday, February 14th. The stock was sold at an average price of $82.25, for a total value of $9,424,451.75. Following the completion of the sale, the insider now directly owns 48,076,612 shares of the company’s stock, valued at approximately $3,954,301,337. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 1,145,830 shares of company stock worth $93,291,187 in the last 90 days. 1.80% of the stock is owned by company insiders.

Kellanova Price Performance

Shares of K stock opened at $82.63 on Friday. The stock has a 50 day moving average of $81.55 and a two-hundred day moving average of $80.65. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. Kellanova has a 12 month low of $52.46 and a 12 month high of $82.72. The company has a market capitalization of $28.48 billion, a P/E ratio of 21.35, a P/E/G ratio of 4.21 and a beta of 0.37.

Kellanova (NYSE:K) last posted its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, equities analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova’s dividend payout ratio (DPR) is presently 58.91%.

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.