Arkfeld Wealth Strategies L.L.C. Takes $219,000 Position in Kellanova (NYSE:K)

Arkfeld Wealth Strategies L.L.C. purchased a new position in shares of Kellanova (NYSE:K) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,714 shares of the company’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Kellanova by 4.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock valued at $14,705,000 after purchasing an additional 10,676 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Kellanova by 498.7% during the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock worth $15,049,000 after acquiring an additional 217,320 shares during the last quarter. Banque Cantonale Vaudoise grew its stake in shares of Kellanova by 35.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 79,701 shares of the company’s stock worth $4,566,000 after acquiring an additional 20,866 shares in the last quarter. M&G Plc bought a new position in shares of Kellanova during the first quarter valued at about $9,346,000. Finally, Atria Investments Inc purchased a new position in Kellanova during the first quarter worth about $1,003,000. Institutional investors own 83.87% of the company’s stock.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $57.23, for a total value of $4,452,494.00. Following the completion of the sale, the insider now directly owns 50,908,638 shares in the company, valued at $2,913,501,352.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $57.23, for a total transaction of $4,452,494.00. Following the completion of the transaction, the insider now owns 50,908,638 shares of the company’s stock, valued at approximately $2,913,501,352.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the completion of the transaction, the insider now owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,039,715 shares of company stock worth $79,608,273. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

K has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Stifel Nicolaus upped their price target on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, August 12th. The Goldman Sachs Group started coverage on Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price objective for the company. Piper Sandler upped their price objective on shares of Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a report on Thursday, August 15th. Finally, Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $76.00 to $83.50 in a research note on Thursday, August 15th. Fifteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Kellanova presently has a consensus rating of “Hold” and a consensus target price of $74.32.

Kellanova Trading Up 0.4 %

K traded up $0.29 on Tuesday, hitting $80.92. 608,834 shares of the company were exchanged, compared to its average volume of 3,152,288. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. The firm has a fifty day simple moving average of $79.58 and a two-hundred day simple moving average of $65.98. The stock has a market capitalization of $27.67 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. Kellanova has a 12 month low of $49.28 and a 12 month high of $81.08.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The company’s revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. Sell-side analysts expect that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.57 per share. This is an increase from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date was Tuesday, September 3rd. Kellanova’s payout ratio is presently 85.39%.

Kellanova Company 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.