Kellanova (NYSE:K) Shares Acquired by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC increased its holdings in Kellanova (NYSE:K) by 2.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 7,219 shares of the company’s stock after acquiring an additional 181 shares during the period. Aaron Wealth Advisors LLC’s holdings in Kellanova were worth $583,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in K. Blue Trust Inc. lifted its holdings in shares of Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after acquiring an additional 170 shares during the last quarter. Family Firm Inc. acquired a new position in Kellanova during the second quarter worth $29,000. CVA Family Office LLC boosted its position in shares of Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after buying an additional 307 shares during the period. BNP Paribas acquired a new position in Kellanova during the 1st quarter worth about $30,000. Finally, Newbridge Financial Services Group Inc. grew its position in Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $57.23, for a total transaction of $4,452,494.00. Following the completion of the transaction, the insider now directly owns 50,908,638 shares in the company, valued at approximately $2,913,501,352.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $57.23, for a total transaction of $4,452,494.00. Following the completion of the sale, the insider now owns 50,908,638 shares in the company, valued at approximately $2,913,501,352.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the completion of the transaction, the insider now owns 50,368,272 shares in the company, valued at approximately $4,062,201,136.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,154,298 shares of company stock worth $88,847,101. Company insiders own 1.80% of the company’s stock.

Kellanova Trading Up 0.0 %

Shares of Kellanova stock opened at $81.05 on Friday. The firm has a market cap of $27.71 billion, a price-to-earnings ratio of 30.36, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. Kellanova has a 52-week low of $49.28 and a 52-week high of $81.21. The company’s 50-day simple moving average is $80.19 and its 200-day simple moving average is $66.52. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 earnings per share. As a group, equities research analysts anticipate that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were issued a $0.57 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. Kellanova’s dividend payout ratio (DPR) is 85.39%.

Analysts Set New Price Targets

Several analysts have recently issued reports on K shares. The Goldman Sachs Group started coverage on shares of Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 price target on the stock. JPMorgan Chase & Co. increased their target price on shares of Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. DA Davidson lowered Kellanova from a “buy” rating to a “neutral” rating and lifted their target price for the company from $80.00 to $83.50 in a report on Monday, August 26th. StockNews.com started coverage on Kellanova in a report on Saturday. They set a “hold” rating on the stock. Finally, Evercore ISI upgraded Kellanova to a “hold” rating in a research note on Friday, August 2nd. Fifteen investment 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, Kellanova has a consensus rating of “Hold” and a consensus target price of $74.32.

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.