Prospera Private Wealth LLC Buys New Shares in Kellanova (NYSE:K)

Prospera Private Wealth LLC bought a new stake in shares of Kellanova (NYSE:K) in the 3rd quarter, HoldingsChannel reports. The firm bought 2,875 shares of the company’s stock, valued at approximately $232,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in K. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Kellanova during the third quarter valued at approximately $4,211,000. Wrapmanager Inc. acquired a new stake in shares of Kellanova during the third quarter valued at approximately $200,000. Prospera Financial Services Inc acquired a new stake in shares of Kellanova during the third quarter valued at approximately $219,000. OneAscent Financial Services LLC acquired a new position in Kellanova in the 3rd quarter valued at approximately $255,000. Finally, Caprock Group LLC purchased a new stake in Kellanova in the 3rd quarter worth approximately $242,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the completion of the transaction, the insider now directly owns 50,597,438 shares in the company, valued at $4,079,165,451.56. The trade was a 0.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 994,464 shares of company stock worth $80,203,479 over the last three months. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on K shares. JPMorgan Chase & Co. increased their price objective on Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. DA Davidson lowered Kellanova from a “buy” rating to a “neutral” rating and lifted their price target for the company from $80.00 to $83.50 in a report on Monday, August 26th. StockNews.com began coverage on Kellanova in a report on Wednesday. They set a “hold” rating for the company. The Goldman Sachs Group began coverage on Kellanova in a report on Monday, August 12th. They set a “neutral” rating and a $75.00 price target for the company. Finally, Royal Bank of Canada lowered Kellanova from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $76.00 to $83.50 in a report on Thursday, August 15th. Fifteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $76.35.

Kellanova Stock Up 0.3 %

K opened at $80.77 on Thursday. The business has a 50 day moving average price of $80.75 and a 200 day moving average price of $70.43. Kellanova has a twelve month low of $51.02 and a twelve month high of $81.34. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The firm has a market cap of $27.84 billion, a P/E ratio of 27.76, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the previous year, the company earned $1.03 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. Research analysts forecast that Kellanova will post 3.74 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.57 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.82%. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

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.