Ashton Thomas Private Wealth LLC Purchases 1,315 Shares of Kellanova (NYSE:K)

Ashton Thomas Private Wealth LLC increased its position in shares of Kellanova (NYSE:K) by 9.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,500 shares of the company’s stock after purchasing an additional 1,315 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Kellanova were worth $1,255,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Callan Family Office LLC purchased a new position in Kellanova during the fourth quarter valued at $219,000. Candriam S.C.A. grew its stake in Kellanova by 15.0% during the fourth quarter. Candriam S.C.A. now owns 31,508 shares of the company’s stock valued at $2,551,000 after acquiring an additional 4,117 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Kellanova during the fourth quarter valued at $21,282,000. Vision Financial Markets LLC purchased a new position in Kellanova during the fourth quarter valued at $113,000. Finally, Arizona State Retirement System grew its stake in Kellanova by 2.2% during the fourth quarter. Arizona State Retirement System now owns 80,091 shares of the company’s stock valued at $6,485,000 after acquiring an additional 1,732 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Kellanova Stock Performance

Shares of NYSE:K opened at $82.45 on Monday. The company has a market capitalization of $28.46 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 4.21 and a beta of 0.31. Kellanova has a 12 month low of $52.46 and a 12 month high of $83.22. The firm’s 50-day moving average is $81.92 and its 200 day moving average is $81.14. 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 (NYSE:K) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.92 EPS 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%. Research analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be given a $0.57 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.28 annualized dividend and a yield of 2.77%. Kellanova’s dividend payout ratio (DPR) is 58.91%.

Insider Buying and Selling at Kellanova

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, December 30th. The shares were sold at an average price of $80.85, for a total value of $9,264,035.55. Following the completion of the sale, the insider now directly owns 48,764,110 shares of the company’s stock, valued at $3,942,578,293.50. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 1,145,830 shares of company stock valued at $93,673,894 in the last three months. Company insiders own 1.80% of the company’s stock.

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.