Sequoia Financial Advisors LLC Purchases 1,027 Shares of Kellanova (NYSE:K)

Sequoia Financial Advisors LLC increased its position in Kellanova (NYSE:K) by 14.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,910 shares of the company’s stock after purchasing an additional 1,027 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Kellanova were worth $442,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Kellanova in the 4th quarter worth approximately $131,663,000. Southeastern Asset Management Inc. TN acquired a new position in Kellanova during the first quarter worth $87,611,000. Invesco Ltd. lifted its holdings in shares of Kellanova by 29.4% during the third quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock valued at $296,971,000 after acquiring an additional 1,132,485 shares during the period. Van ECK Associates Corp boosted its stake in shares of Kellanova by 27.4% in the 3rd quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock valued at $291,061,000 after purchasing an additional 1,051,922 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Kellanova by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 29,353,099 shares of the company’s stock worth $1,892,981,000 after purchasing an additional 646,828 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Performance

Shares of NYSE:K opened at $56.07 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51. Kellanova has a 1-year low of $47.63 and a 1-year high of $72.30. The stock has a market capitalization of $19.16 billion, a P/E ratio of 20.39, a P/E/G ratio of 2.07 and a beta of 0.40. The business has a 50-day moving average price of $55.50 and a two-hundred day moving average price of $53.99.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.07 billion. During the same period in the previous year, the firm posted $0.94 earnings per share. Kellanova’s revenue for the quarter was up .3% compared to the same quarter last year. Equities analysts predict that Kellanova will post 3.57 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.56 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.24 annualized dividend and a dividend yield of 4.00%. Kellanova’s dividend payout ratio is currently 81.45%.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $54.68, for a total value of $4,254,104.00. Following the sale, the insider now directly owns 52,775,838 shares in the company, valued at approximately $2,885,782,821.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 933,600 shares of company stock valued at $51,308,322 over the last three months. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Barclays lifted their price target on shares of Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. Wells Fargo & Company increased their price target on Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Citigroup started coverage on Kellanova in a report on Thursday, February 1st. They set a “neutral” rating and a $57.00 price target for the company. Stifel Nicolaus boosted their price objective on Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Finally, Piper Sandler raised their target price on Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Kellanova currently has a consensus rating of “Hold” and a consensus price target of $62.27.

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.