Toth Financial Advisory Corp Has $1.19 Million Stock Position in Kellanova (NYSE:K)

Toth Financial Advisory Corp raised its stake in shares of Kellanova (NYSE:K) by 15.6% during the first quarter, Holdings Channel reports. The firm owned 20,693 shares of the company’s stock after buying an additional 2,799 shares during the period. Toth Financial Advisory Corp’s holdings in Kellanova were worth $1,186,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in K. Vanguard Group Inc. raised its stake in shares of Kellanova by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock valued at $1,797,525,000 after acquiring an additional 1,130,582 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Kellanova by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company’s stock valued at $316,323,000 after acquiring an additional 98,294 shares during the last quarter. Beutel Goodman & Co Ltd. raised its stake in shares of Kellanova by 15.5% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock valued at $273,504,000 after acquiring an additional 655,686 shares during the last quarter. Norges Bank bought a new position in shares of Kellanova in the fourth quarter valued at approximately $150,184,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Kellanova by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,233,907 shares of the company’s stock valued at $124,893,000 after acquiring an additional 9,726 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on K shares. Barclays lifted their target price on shares of Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. TD Cowen boosted their price objective on shares of Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Finally, DA Davidson boosted their price objective on shares of Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $61.83.

Kellanova Stock Performance

Shares of Kellanova stock opened at $57.68 on Friday. The firm has a fifty day moving average of $59.71 and a two-hundred day moving average of $56.85. The stock has a market capitalization of $19.72 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 2.05 and a beta of 0.35. Kellanova has a 52 week low of $47.63 and a 52 week high of $68.69. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62.

Kellanova (NYSE:K) last issued its earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 EPS. As a group, equities research analysts predict that Kellanova will post 3.62 EPS for the current year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend was Monday, June 3rd. Kellanova’s dividend payout ratio (DPR) is 83.90%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $57.46, for a total value of $4,470,388.00. Following the completion of the transaction, the insider now owns 52,075,638 shares of the company’s stock, valued at approximately $2,992,266,159.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $57.46, for a total value of $4,470,388.00. Following the completion of the transaction, the insider now owns 52,075,638 shares of the company’s stock, valued at approximately $2,992,266,159.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Nicolas Amaya sold 9,800 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the transaction, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The disclosure for this sale can be found here. Insiders sold 865,600 shares of company stock valued at $50,941,428 in the last quarter. Company insiders own 1.80% of the company’s stock.

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.