Rialto Wealth Management LLC Makes New $32,000 Investment in Kellanova (NYSE:K)

Rialto Wealth Management LLC purchased a new stake in shares of Kellanova (NYSE:K) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 392 shares of the company’s stock, valued at approximately $32,000.

A number of other institutional investors also recently modified their holdings of the company. Toronto Dominion Bank grew its holdings in Kellanova by 5.1% in the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock valued at $14,435,000 after buying an additional 8,686 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Kellanova by 6.9% in the third 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 acquired a new stake in shares of Kellanova in the fourth quarter worth $384,000. Barclays PLC increased its position in Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after acquiring an additional 1,033,383 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Kellanova during the 3rd quarter valued at $4,211,000. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Up 0.0 %

NYSE K opened at $82.45 on Monday. Kellanova has a 1-year low of $52.46 and a 1-year high of $83.22. 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. The stock’s 50 day moving average is $81.92 and its two-hundred 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 announced 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 return on equity of 37.25% and a net margin of 10.53%. Equities analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Monday, March 3rd. Kellanova’s payout ratio is 58.91%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the sale, the insider now directly owns 48,878,693 shares in the company, valued at $3,941,577,803.52. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 1,145,830 shares of company stock worth $93,673,894 in the last quarter. 1.80% of the stock is owned by corporate 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.