IFP Advisors Inc Buys 24,597 Shares of Kellanova (NYSE:K)

IFP Advisors Inc increased its stake in shares of Kellanova (NYSE:K) by 146.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,354 shares of the company’s stock after buying an additional 24,597 shares during the quarter. IFP Advisors Inc’s holdings in Kellanova were worth $3,348,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Stonebridge Financial Group LLC purchased a new position in Kellanova during the 4th quarter worth $27,000. First Horizon Advisors Inc. boosted its holdings in Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after purchasing an additional 173 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in Kellanova by 41.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after purchasing an additional 158 shares in the last quarter. Assetmark Inc. increased its stake in Kellanova by 26.2% in the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after buying an additional 131 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Kellanova during the 3rd quarter worth approximately $55,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Trading Up 0.1 %

NYSE:K opened at $82.71 on Tuesday. Kellanova has a 1 year low of $52.46 and a 1 year high of $82.75. The stock’s fifty day moving average price is $81.59 and its two-hundred day moving average price is $80.83. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The company has a market cap of $28.51 billion, a P/E ratio of 21.37, a P/E/G ratio of 4.21 and a beta of 0.37.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. As a group, analysts expect 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. Stockholders 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 currently 58.91%.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $80.70, for a total value of $9,246,848.10. Following the completion of the sale, the insider now owns 49,107,859 shares of the company’s stock, valued at approximately $3,963,004,221.30. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 1,145,830 shares of company stock worth $93,291,187 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target on the stock in a report on Tuesday, February 18th. StockNews.com initiated coverage on shares of Kellanova in a research report on Monday. They set a “hold” rating for the company. Finally, BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research report on Friday, November 1st. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $77.96.

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.