Advisors Asset Management Inc. Purchases 1,984 Shares of Kellanova (NYSE:K)

Advisors Asset Management Inc. raised its holdings in shares of Kellanova (NYSE:K) by 6.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,551 shares of the company’s stock after purchasing an additional 1,984 shares during the period. Advisors Asset Management Inc.’s holdings in Kellanova were worth $2,546,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Swedbank AB grew its stake in shares of Kellanova by 20.5% during the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after purchasing an additional 46,450 shares during the period. SG Americas Securities LLC grew its position in shares of Kellanova by 498.7% during the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock worth $15,049,000 after buying an additional 217,320 shares during the period. Principal Financial Group Inc. increased its stake in shares of Kellanova by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after acquiring an additional 24,067 shares during the last quarter. Atria Investments Inc acquired a new stake in shares of Kellanova in the 1st quarter valued at approximately $1,003,000. Finally, Tidal Investments LLC boosted its stake in Kellanova by 36.7% during the 1st quarter. Tidal Investments LLC now owns 37,451 shares of the company’s stock worth $2,145,000 after acquiring an additional 10,051 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on K. Deutsche Bank Aktiengesellschaft upped their target price on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research note on Thursday, August 15th. Stifel Nicolaus raised their price objective on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. StockNews.com assumed coverage on Kellanova in a research note on Wednesday. They issued a “hold” rating for the company. The Goldman Sachs Group began coverage on Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 price target on the stock. Finally, Argus lowered Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $76.35.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the sale, the insider now owns 50,482,855 shares in the company, valued at approximately $4,051,249,113.75. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 1,109,047 shares of company stock valued at $89,483,556 in the last quarter. Company insiders own 1.80% of the company’s stock.

Kellanova Trading Up 0.2 %

Kellanova stock opened at $81.17 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The firm has a 50-day moving average of $80.77 and a 200-day moving average of $70.65. The company has a market cap of $27.98 billion, a price-to-earnings ratio of 27.89, a P/E/G ratio of 2.60 and a beta of 0.39. Kellanova has a one year low of $51.02 and a one year high of $81.34.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business’s revenue was down .7% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. On average, equities analysts expect that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Monday, December 2nd. Kellanova’s dividend payout ratio is currently 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.