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

Independent Advisor Alliance raised its position in shares of Kellanova (NYSE:K) by 16.5% in the fourth quarter, according to the company in its most recent 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 quarter.

Other large investors also recently bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new stake in shares of Kellanova during the 4th quarter valued at about $27,000. BankPlus Trust Department purchased a new stake in Kellanova in the fourth quarter worth about $28,000. Rialto Wealth Management LLC purchased a new stake in Kellanova in the fourth quarter worth about $32,000. First Horizon Advisors Inc. increased its position in Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after buying an additional 173 shares in the last quarter. Finally, Sherman Asset Management Inc. purchased a new stake in Kellanova in the 4th quarter worth $43,000. 83.87% of the stock is currently owned by institutional investors.

Kellanova Price Performance

Shares of Kellanova stock opened at $82.22 on Monday. The stock has a market cap of $28.38 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. 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 stock has a 50 day moving average price of $82.05 and a 200-day moving average price of $81.19. Kellanova has a one year low of $52.53 and a one year high of $83.22.

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

Kellanova Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target for the company in a research note on Tuesday, February 18th. StockNews.com assumed coverage on shares of Kellanova in a research note on Wednesday, March 12th. They set a “hold” rating for the company. Thirteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $77.96.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the completion of the sale, the insider now directly owns 48,878,693 shares of the company’s stock, valued at $3,941,577,803.52. The trade was a 0.23 % decrease in their position. The sale was disclosed in a document filed 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 90 days. Company insiders own 1.80% of the company’s stock.

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.