Avantax Advisory Services Inc. Has $758,000 Stake in Kellanova (NYSE:K)

Avantax Advisory Services Inc. trimmed its position in shares of Kellanova (NYSE:K) by 20.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,358 shares of the company’s stock after selling 2,443 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Kellanova were worth $758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new stake in shares of Kellanova during the 4th quarter valued at about $27,000. BankPlus Trust Department acquired a new stake in Kellanova in the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC acquired a new stake in Kellanova in the 4th quarter worth approximately $32,000. First Horizon Advisors Inc. lifted its holdings in 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 last quarter. Finally, Sherman Asset Management Inc. acquired a new stake in Kellanova in the 4th quarter worth approximately $43,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Stock Performance

K opened at $82.33 on Friday. The stock has a market cap of $28.42 billion, a PE ratio of 21.27, a P/E/G ratio of 4.21 and a beta of 0.31. 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 1 year low of $54.70 and a 1 year high of $83.22. The stock’s 50 day simple moving average is $82.12 and its 200-day simple moving average is $81.24.

Kellanova (NYSE:K) last released its quarterly earnings data 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 return on equity of 37.25% and a net margin of 10.53%. Sell-side analysts forecast that Kellanova will post 3.93 EPS 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. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova’s dividend payout ratio (DPR) is 58.91%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on K shares. StockNews.com started coverage on Kellanova in a report on Thursday. They issued a “hold” rating for the company. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price for the company in a report on Tuesday, February 18th. Thirteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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 the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $80.85, for a total value of $9,264,035.55. Following the transaction, the insider now owns 48,764,110 shares of the company’s stock, valued at approximately $3,942,578,293.50. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 1,260,413 shares of company stock worth $103,099,492 over the last three months. 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.