Aaron Wealth Advisors LLC Raises Stake in Kellanova (NYSE:K)

Aaron Wealth Advisors LLC increased its stake in Kellanova (NYSE:K) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,219 shares of the company’s stock after buying an additional 181 shares during the period. Aaron Wealth Advisors LLC’s holdings in Kellanova were worth $583,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in K. CVA Family Office LLC grew its holdings in Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after acquiring an additional 307 shares in the last quarter. Blue Trust Inc. lifted its holdings in Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after buying an additional 170 shares during the period. Family Firm Inc. purchased a new position in shares of Kellanova in the 2nd quarter valued at $29,000. BNP Paribas bought a new position in shares of Kellanova in the 1st quarter worth $30,000. Finally, Newbridge Financial Services Group Inc. lifted its stake in shares of Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

Shares of NYSE K opened at $81.05 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48. The stock has a market capitalization of $27.71 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 2.59 and a beta of 0.39. The firm’s 50 day simple moving average is $80.19 and its 200-day simple moving average is $66.52. Kellanova has a 12 month low of $49.28 and a 12 month high of $81.21.

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

Kellanova Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were paid a $0.57 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. This is a boost from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s dividend payout ratio (DPR) is currently 85.39%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $80.63, for a total transaction of $9,238,827.29. Following the completion of the transaction, the insider now owns 49,909,940 shares of the company’s stock, valued at $4,024,238,462.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $80.63, for a total value of $9,238,827.29. Following the transaction, the insider now directly owns 49,909,940 shares of the company’s stock, valued at approximately $4,024,238,462.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the sale, the insider now directly owns 50,597,438 shares of the company’s stock, valued at approximately $4,079,165,451.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,154,298 shares of company stock valued at $88,847,101 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on K. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group initiated coverage on shares of Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 target price for the company. Barclays lifted their price target on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. DA Davidson cut Kellanova from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. upped their target price on Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Fifteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and an average price target of $74.32.

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.