Envestnet Portfolio Solutions Inc. Takes Position in Kellanova (NYSE:K)

Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Kellanova (NYSE:K) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 8,226 shares of the company’s stock, valued at approximately $666,000.

Several other large investors have also recently bought and sold shares of the business. Oregon Public Employees Retirement Fund lifted its position in Kellanova by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company’s stock worth $1,870,000 after buying an additional 130 shares in the last quarter. Quent Capital LLC increased its stake in shares of Kellanova by 20.2% in the fourth quarter. Quent Capital LLC now owns 833 shares of the company’s stock worth $67,000 after acquiring an additional 140 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Kellanova by 1.7% during the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock worth $690,000 after acquiring an additional 145 shares in the last quarter. SPC Financial Inc. boosted its position in Kellanova by 5.7% during the fourth quarter. SPC Financial Inc. now owns 2,976 shares of the company’s stock valued at $241,000 after purchasing an additional 160 shares during the last quarter. Finally, CENTRAL TRUST Co increased its position in Kellanova by 0.7% in the 4th quarter. CENTRAL TRUST Co now owns 22,480 shares of the company’s stock worth $1,820,000 after purchasing an additional 162 shares during the last quarter. 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 114,583 shares of Kellanova stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $81.28, for a total transaction of $9,313,306.24. Following the sale, the insider now owns 48,649,527 shares of the company’s stock, valued at approximately $3,954,233,554.56. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 1,260,413 shares of company stock worth $103,290,845. 1.80% of the stock is currently owned by company insiders.

Kellanova Trading Down 0.1 %

Shares of NYSE:K opened at $82.40 on Tuesday. Kellanova has a 52-week low of $55.01 and a 52-week high of $83.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The company has a market cap of $28.45 billion, a P/E ratio of 21.29, a P/E/G ratio of 4.21 and a beta of 0.31. The stock’s 50-day moving average is $82.16 and its 200-day moving average is $81.27.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.92 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%. Equities research analysts predict that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders 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 annualized dividend and a yield of 2.77%. Kellanova’s dividend payout ratio is 58.91%.

Analysts Set New Price Targets

Several brokerages recently commented on K. Royal Bank of Canada cut Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. StockNews.com began coverage on shares of Kellanova in a research report on Thursday, March 20th. They issued a “hold” rating for the company. Fourteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Kellanova currently has a consensus rating of “Hold” and an average target price of $77.96.

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.