D.A. Davidson & CO. Has $1.82 Million Stock Position in Kellanova (NYSE:K)

D.A. Davidson & CO. lifted its stake in Kellanova (NYSE:K) by 11.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. CIBC Asset Management Inc boosted its position in shares of Kellanova by 2.9% in the 4th quarter. CIBC Asset Management Inc now owns 49,301 shares of the company’s stock worth $3,992,000 after purchasing an additional 1,400 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Kellanova in the 4th quarter worth $1,311,000. Principal Securities Inc. boosted its position in shares of Kellanova by 61.0% in the 4th quarter. Principal Securities Inc. now owns 1,663 shares of the company’s stock worth $135,000 after purchasing an additional 630 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Kellanova by 1.3% in the 4th quarter. Rhumbline Advisers now owns 627,336 shares of the company’s stock worth $50,795,000 after purchasing an additional 7,824 shares during the last quarter. Finally, WASHINGTON TRUST Co boosted its position in shares of Kellanova by 11.9% in the 4th quarter. WASHINGTON TRUST Co now owns 1,884 shares of the company’s stock worth $153,000 after purchasing an additional 200 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Kellanova Stock Performance

Shares of Kellanova stock opened at $82.63 on Friday. The firm has a market cap of $28.48 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37. The stock’s 50-day moving average is $81.55 and its 200-day moving average is $80.65. Kellanova has a one year low of $52.46 and a one year high of $82.72. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Equities analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal 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 $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.76%. Kellanova’s dividend payout ratio is currently 58.91%.

Insider Activity 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 that occurred on Friday, February 14th. The stock was sold at an average price of $82.25, for a total transaction of $9,424,451.75. Following the transaction, the insider now owns 48,076,612 shares of the company’s stock, valued at $3,954,301,337. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 1,145,830 shares of company stock valued at $93,291,187. 1.80% of the stock is owned by insiders.

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.