Fifth Third Wealth Advisors LLC Purchases 281 Shares of Kellanova (NYSE:K)

Fifth Third Wealth Advisors LLC boosted its holdings in shares of Kellanova (NYSE:K) by 10.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,926 shares of the company’s stock after acquiring an additional 281 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Kellanova were worth $237,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. D. E. Shaw & Co. Inc. boosted its stake in shares of Kellanova by 766.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after acquiring an additional 1,664,461 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in Kellanova in the 2nd quarter worth approximately $88,065,000. Westchester Capital Management LLC bought a new stake in Kellanova during the third quarter worth approximately $107,795,000. Point72 Asset Management L.P. acquired a new position in Kellanova during the second quarter valued at approximately $63,585,000. Finally, Barclays PLC raised its position in shares of Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after purchasing an additional 1,033,383 shares during the period. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

K opened at $81.73 on Friday. The stock’s 50 day simple moving average is $80.94 and its 200-day simple moving average is $76.37. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The stock has a market cap of $28.17 billion, a PE ratio of 28.09, a P/E/G ratio of 2.49 and a beta of 0.37. Kellanova has a 1 year low of $52.46 and a 1 year high of $81.79.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 EPS. Sell-side analysts forecast that Kellanova will post 3.75 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s dividend payout ratio is 78.35%.

Wall Street Analysts Forecast Growth

K has been the topic of a number of research analyst reports. Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research report on Friday, November 1st. Finally, StockNews.com began coverage on Kellanova in a research report on Wednesday. They set a “hold” rating for the company. Fifteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $76.35.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $80.76, for a total value of $9,253,723.08. Following the sale, the insider now owns 49,680,774 shares of the company’s stock, valued at approximately $4,012,219,308.24. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 1,031,247 shares of company stock valued at $83,509,236. 1.80% of the stock is currently owned by corporate insiders.

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.