Flagship Wealth Advisors LLC Invests $32,000 in Kellanova (NYSE:K)

Flagship Wealth Advisors LLC acquired a new position in shares of Kellanova (NYSE:K) in the 4th quarter, HoldingsChannel reports. The fund acquired 400 shares of the company’s stock, valued at approximately $32,000.

Other large investors also recently modified their holdings of the company. Stonebridge Financial Group LLC acquired a new stake in shares of Kellanova during the 4th quarter worth approximately $27,000. BankPlus Trust Department acquired a new stake in shares of Kellanova during the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Kellanova during the 4th quarter worth approximately $32,000. First Horizon Advisors Inc. grew its position in shares of Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after buying an additional 173 shares during the period. Finally, Twin Tree Management LP acquired a new stake in Kellanova in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Friday, March 14th. The stock was sold at an average price of $82.26, for a total transaction of $9,425,597.58. Following the sale, the insider now directly owns 47,618,280 shares in the company, valued at $3,917,079,712.80. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 1,260,413 shares of company stock worth $103,099,492 in the last ninety days. Company insiders own 1.80% of the company’s stock.

Kellanova Price Performance

Shares of NYSE:K opened at $82.36 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The stock’s fifty day simple moving average is $82.09 and its two-hundred day simple moving average is $81.22. Kellanova has a 1-year low of $54.47 and a 1-year high of $83.22. The stock has a market cap of $28.43 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

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

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.