Proficio Capital Partners LLC Invests $9.92 Million in Kellanova (NYSE:K)

Proficio Capital Partners LLC bought a new position in shares of Kellanova (NYSE:K) during the 4th quarter, Holdings Channel.com reports. The fund bought 122,508 shares of the company’s stock, valued at approximately $9,919,000.

Several other hedge funds also recently made changes to their positions in the business. Stonebridge Financial Group LLC bought a new position in Kellanova in the fourth quarter valued at approximately $27,000. BankPlus Trust Department bought a new position in Kellanova in the fourth quarter valued at approximately $28,000. First Horizon Advisors Inc. increased its stake in Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after acquiring an additional 173 shares during the last quarter. Sherman Asset Management Inc. bought a new position in Kellanova in the fourth quarter valued at approximately $43,000. Finally, Assetmark Inc. increased its stake in Kellanova by 26.2% in the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after acquiring an additional 131 shares during the last quarter. 83.87% of the stock is owned by institutional investors.

Kellanova Stock Performance

Shares of Kellanova stock opened at $82.22 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. Kellanova has a twelve month low of $52.53 and a twelve month high of $83.22. The stock has a market cap of $28.38 billion, a price-to-earnings ratio of 21.24, a P/E/G ratio of 4.21 and a beta of 0.31. The company’s fifty day moving average is $82.05 and its 200 day moving average is $81.19.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Sell-side analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were given a dividend of $0.57 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. Kellanova’s dividend payout ratio (DPR) is currently 58.91%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on K shares. Royal Bank of Canada upgraded shares of 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. StockNews.com started coverage on shares of Kellanova in a research report on Wednesday. They issued a “hold” rating on the stock. Thirteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Kellanova presently has a consensus rating of “Hold” and a consensus price target of $77.96.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the sale, the insider now owns 48,764,110 shares of the company’s stock, valued at approximately $3,942,578,293.50. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 1,260,413 shares of company stock valued at $103,099,492. 1.80% of the stock is currently owned by insiders.

Kellanova 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.