HB Wealth Management LLC Boosts Stake in Kellanova (NYSE:K)

HB Wealth Management LLC grew its stake in shares of Kellanova (NYSE:K) by 72.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,673 shares of the company’s stock after buying an additional 2,795 shares during the quarter. HB Wealth Management LLC owned 0.80% of Kellanova worth $373,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. raised its position in Kellanova by 1.2% in the 1st quarter. BlackRock Inc. now owns 31,697,821 shares of the company’s stock worth $2,122,486,000 after purchasing an additional 369,648 shares during the period. Vanguard Group Inc. raised its position in Kellanova by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 29,353,099 shares of the company’s stock worth $1,892,981,000 after purchasing an additional 646,828 shares during the period. State Street Corp raised its position in Kellanova by 2.6% in the 1st quarter. State Street Corp now owns 14,696,120 shares of the company’s stock worth $947,753,000 after purchasing an additional 369,620 shares during the period. Geode Capital Management LLC raised its position in Kellanova by 2.9% in the 1st quarter. Geode Capital Management LLC now owns 5,659,404 shares of the company’s stock worth $378,150,000 after purchasing an additional 159,028 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Kellanova by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,559,415 shares of the company’s stock worth $330,841,000 after purchasing an additional 200,870 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $54.72, for a total transaction of $4,257,216.00. Following the completion of the transaction, the insider now directly owns 52,931,438 shares of the company’s stock, valued at $2,896,408,287.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 855,800 shares of company stock valued at $46,722,790 over the last three months. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

K has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. Piper Sandler boosted their price objective on shares of Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. DA Davidson initiated coverage on shares of Kellanova in a research report on Friday, March 1st. They issued a “buy” rating and a $67.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Finally, StockNews.com cut shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Twelve investment 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 $62.27.

Kellanova Trading Up 1.4 %

NYSE:K opened at $56.65 on Thursday. Kellanova has a one year low of $47.63 and a one year high of $72.30. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. The company’s 50-day simple moving average is $54.78 and its 200 day simple moving average is $54.29. The firm has a market capitalization of $19.36 billion, a P/E ratio of 20.60, a PEG ratio of 2.08 and a beta of 0.40.

Kellanova (NYSE:K) last issued its earnings results on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.04. The business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 earnings per share. As a group, analysts forecast that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.56 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.24 annualized dividend and a yield of 3.95%. Kellanova’s dividend payout ratio (DPR) is presently 81.45%.

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.