Independent Advisor Alliance Acquires 1,019 Shares of Kellanova (NYSE:K)

Independent Advisor Alliance grew its holdings in Kellanova (NYSE:K) by 16.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,203 shares of the company’s stock after purchasing an additional 1,019 shares during the quarter. Independent Advisor Alliance’s holdings in Kellanova were worth $583,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of K. Assetmark Inc. raised its holdings in Kellanova by 26.2% in the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after purchasing an additional 131 shares in the last quarter. CIBC Asset Management Inc increased its position in Kellanova by 7.0% during the 3rd quarter. CIBC Asset Management Inc now owns 47,901 shares of the company’s stock valued at $3,866,000 after buying an additional 3,149 shares in the last quarter. Empirical Finance LLC increased its position in Kellanova by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 8,891 shares of the company’s stock valued at $718,000 after buying an additional 175 shares in the last quarter. Mizuho Securities USA LLC increased its position in Kellanova by 511.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 124,188 shares of the company’s stock valued at $10,023,000 after buying an additional 103,892 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in Kellanova by 7.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 21,682 shares of the company’s stock valued at $1,750,000 after buying an additional 1,432 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $80.85, for a total value of $9,264,035.55. Following the completion of the sale, the insider now owns 48,764,110 shares of the company’s stock, valued at $3,942,578,293.50. This represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold 1,260,413 shares of company stock worth $103,099,492 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Kellanova Stock Down 0.1 %

Shares of K opened at $82.22 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. Kellanova has a 12 month low of $52.53 and a 12 month high of $83.22. The firm has a market cap of $28.38 billion, a P/E ratio of 21.24, a PEG ratio of 4.21 and a beta of 0.31. The stock’s 50 day moving average is $82.05 and its two-hundred day moving average is $81.19.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping 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 predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were given a $0.57 dividend. The ex-dividend date 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 (DPR) is presently 58.91%.

Analyst Ratings Changes

K has been the topic of several recent analyst reports. StockNews.com started coverage on Kellanova in a research report on Wednesday, March 12th. They set a “hold” rating on the stock. Royal Bank of Canada raised 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. Thirteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Kellanova has an average rating of “Hold” and a consensus target price of $77.96.

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.