First Horizon Advisors Inc. Buys 173 Shares of Kellanova (NYSE:K)

First Horizon Advisors Inc. boosted its stake in Kellanova (NYSE:K) by 64.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 440 shares of the company’s stock after purchasing an additional 173 shares during the period. First Horizon Advisors Inc.’s holdings in Kellanova were worth $36,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in K. Toronto Dominion Bank grew its position in shares of Kellanova by 5.1% during the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock valued at $14,435,000 after acquiring an additional 8,686 shares during the period. Principal Financial Group Inc. grew its position in shares of Kellanova by 6.9% during the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after acquiring an additional 24,067 shares during the period. Wedmont Private Capital bought a new stake in shares of Kellanova during the 4th quarter valued at $384,000. Barclays PLC grew its position in shares of Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Kellanova during the 3rd quarter valued at $4,211,000. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Down 0.0 %

Shares of NYSE K opened at $82.59 on Friday. The firm’s 50-day moving average price is $81.72 and its 200-day moving average price is $80.95. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $28.51 billion, a price-to-earnings ratio of 21.34, a P/E/G ratio of 4.21 and a beta of 0.37. Kellanova has a 12-month low of $52.46 and a 12-month high of $82.85.

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%. On average, equities research analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

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 issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.76%. Kellanova’s payout ratio is 58.91%.

Analyst Ratings Changes

K has been the subject of several recent analyst reports. BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Friday, November 1st. StockNews.com started coverage on shares of Kellanova in a report on Monday. They issued a “hold” rating for the company. Finally, Royal Bank of Canada upgraded shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target on the stock in a research note on Tuesday, February 18th. Thirteen 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, Kellanova has a consensus rating of “Hold” and a consensus target price of $77.96.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $80.70, for a total value of $9,246,848.10. Following the transaction, the insider now directly owns 49,107,859 shares in the company, valued at $3,963,004,221.30. This represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders have sold 1,031,247 shares of company stock worth $83,985,902. Insiders own 1.80% of the company’s stock.

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.