Xponance Inc. Boosts Position in Kellanova (NYSE:K)

Xponance Inc. raised its stake in shares of Kellanova (NYSE:K) by 3.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 38,436 shares of the company’s stock after buying an additional 1,347 shares during the quarter. Xponance Inc.’s holdings in Kellanova were worth $3,112,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Stonebridge Financial Group LLC purchased a new position in shares of Kellanova during the fourth quarter worth about $27,000. BankPlus Trust Department purchased a new position in shares of Kellanova during the fourth quarter worth about $28,000. Rialto Wealth Management LLC purchased a new position in shares of Kellanova during the fourth quarter worth about $32,000. Flagship Wealth Advisors LLC purchased a new position in shares of Kellanova during the fourth quarter worth about $32,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after purchasing an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on K. StockNews.com began coverage on Kellanova in a report on Thursday. They set a “hold” rating for the company. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price for the company in a research note on Tuesday, February 18th. Thirteen analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $77.96.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s 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 completion of the transaction, the insider now owns 48,878,693 shares in the company, valued at $3,941,577,803.52. This represents a 0.23 % 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. Insiders sold a total of 1,260,413 shares of company stock worth $103,099,492 over the last quarter. 1.80% of the stock is owned by corporate insiders.

Kellanova Stock Performance

Shares of K stock opened at $82.33 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a fifty-two week low of $54.70 and a fifty-two week high of $83.22. The stock has a 50 day moving average price of $82.12 and a two-hundred day moving average price of $81.24. The company has a market capitalization of $28.42 billion, a P/E ratio of 21.27, a PEG ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share 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%. Analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova’s dividend payout ratio is presently 58.91%.

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.