Prospera Financial Services Inc Takes Position in Kellanova (NYSE:K)

Prospera Financial Services Inc acquired a new stake in shares of Kellanova (NYSE:K) in the third quarter, HoldingsChannel reports. The fund acquired 2,713 shares of the company’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of K. Dimensional Fund Advisors LP lifted its stake in Kellanova by 11.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock valued at $150,909,000 after buying an additional 277,171 shares during the last quarter. Yacktman Asset Management LP lifted its position in Kellanova by 0.5% in the 2nd quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock valued at $123,546,000 after purchasing an additional 10,510 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in Kellanova by 766.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock valued at $108,532,000 after purchasing an additional 1,664,461 shares during the period. Maverick Capital Ltd. bought a new position in Kellanova in the 2nd quarter worth about $88,065,000. Finally, TD Asset Management Inc increased its stake in shares of Kellanova by 3.0% in the second quarter. TD Asset Management Inc now owns 1,391,196 shares of the company’s stock valued at $80,244,000 after purchasing an additional 40,406 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group started coverage on Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective for the company. Royal Bank of Canada cut Kellanova from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $76.00 to $83.50 in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research note on Thursday, August 15th. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Fifteen analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $76.35.

Kellanova Price Performance

NYSE K opened at $81.11 on Tuesday. The stock has a market capitalization of $27.96 billion, a P/E ratio of 27.87, a P/E/G ratio of 2.61 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The business’s fifty day moving average is $80.78 and its two-hundred day moving average is $70.85. Kellanova has a 1 year low of $51.02 and a 1 year high of $81.34.

Kellanova (NYSE:K) last announced its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the prior year, the business posted $1.03 earnings per share. Kellanova’s revenue was down .7% compared to the same quarter last year. On average, research analysts forecast that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is currently 78.35%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the sale, the insider now owns 50,482,855 shares of the company’s stock, valued at $4,051,249,113.75. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 1,109,047 shares of company stock worth $89,483,556 over the last 90 days. 1.80% of the stock is owned by company 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.