Cerity Partners LLC Boosts Stake in Kellanova (NYSE:K)

Cerity Partners LLC grew its stake in Kellanova (NYSE:K) by 23.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,157 shares of the company’s stock after acquiring an additional 9,258 shares during the quarter. Cerity Partners LLC’s holdings in Kellanova were worth $2,749,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Aaron Wealth Advisors LLC boosted its position in shares of Kellanova by 4.9% in the 4th quarter. Aaron Wealth Advisors LLC now owns 6,241 shares of the company’s stock worth $349,000 after purchasing an additional 294 shares in the last quarter. Custom Index Systems LLC purchased a new stake in Kellanova during the 4th quarter worth approximately $432,000. Sequoia Financial Advisors LLC increased its stake in Kellanova by 14.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 7,910 shares of the company’s stock valued at $442,000 after purchasing an additional 1,027 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Kellanova by 133.4% in the fourth quarter. International Assets Investment Management LLC now owns 60,885 shares of the company’s stock worth $3,404,000 after buying an additional 34,800 shares during the last quarter. Finally, Bristlecone Advisors LLC lifted its stake in shares of Kellanova by 89.2% during the fourth quarter. Bristlecone Advisors LLC now owns 37,688 shares of the company’s stock worth $2,107,000 after buying an additional 17,767 shares during the period. 83.87% of the stock is owned by institutional investors.

Kellanova Stock Performance

NYSE K opened at $56.54 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. The stock’s 50 day simple moving average is $55.54 and its 200-day simple moving average is $54.00. The company has a market cap of $19.32 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 2.07 and a beta of 0.40. Kellanova has a 1-year low of $47.63 and a 1-year high of $72.30.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.07 billion. During the same period in the prior year, the company earned $0.94 EPS. The firm’s revenue was up .3% compared to the same quarter last year. As a group, equities research analysts anticipate that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.56 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.24 dividend on an annualized basis and a yield of 3.96%. Kellanova’s payout ratio is 81.45%.

Insiders Place Their Bets

In other Kellanova 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 stock was sold at an average price of $57.46, for a total transaction of $4,470,388.00. Following the transaction, the insider now owns 52,075,638 shares of the company’s stock, valued at $2,992,266,159.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 933,600 shares of company stock valued at $51,308,322 in the last ninety days. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

K has been the subject of a number of research analyst reports. Piper Sandler raised their target price on Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. StockNews.com downgraded Kellanova from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Wells Fargo & Company increased their price target on shares of Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. JPMorgan Chase & Co. lifted their price objective on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Finally, DA Davidson initiated coverage on shares of Kellanova in a report on Friday, March 1st. They issued a “buy” rating and a $67.00 price objective on the stock. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $62.27.

Kellanova 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.