HighTower Advisors LLC Grows Stock Holdings in Kellanova (NYSE:K)

HighTower Advisors LLC raised its stake in Kellanova (NYSE:K) by 112.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,946 shares of the company’s stock after buying an additional 18,001 shares during the period. HighTower Advisors LLC’s holdings in Kellanova were worth $2,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in K. Stonebridge Financial Group LLC purchased a new stake in shares of Kellanova in the 4th quarter worth approximately $27,000. BankPlus Trust Department purchased a new stake in shares of Kellanova in the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Kellanova in the 4th quarter worth approximately $32,000. First Horizon Advisors Inc. lifted its position in shares of Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after purchasing an additional 173 shares during the period. Finally, Sherman Asset Management Inc. purchased a new stake in shares of Kellanova in the 4th quarter worth approximately $43,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the 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 directly 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 filing with the SEC, which is available at this hyperlink. Insiders have sold 1,374,996 shares of company stock valued at $112,530,818 in the last ninety days. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on K shares. Royal Bank of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. StockNews.com started coverage on shares of Kellanova in a research report on Thursday. They issued a “hold” rating for the company. Fourteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $77.96.

Kellanova Trading Up 0.1 %

Shares of Kellanova stock opened at $82.40 on Friday. 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 $55.01 and a 12-month high of $83.22. The firm has a market capitalization of $28.44 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 4.21 and a beta of 0.31. The firm’s 50 day simple moving average is $82.14 and its two-hundred day simple moving average is $81.25.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova’s dividend payout ratio (DPR) is currently 58.91%.

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.