LRI Investments LLC Purchases Shares of 5,475 Kellanova (NYSE:K)

LRI Investments LLC purchased a new stake in Kellanova (NYSE:K) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,475 shares of the company’s stock, valued at approximately $342,000.

Other institutional investors have also recently bought and sold shares of the company. Gabelli Funds LLC raised its holdings in shares of Kellanova by 8.6% in the first quarter. Gabelli Funds LLC now owns 66,800 shares of the company’s stock valued at $3,827,000 after purchasing an additional 5,300 shares during the last quarter. Keeley Teton Advisors LLC boosted its position in Kellanova by 21.5% during the first quarter. Keeley Teton Advisors LLC now owns 46,181 shares of the company’s stock worth $2,646,000 after purchasing an additional 8,179 shares during the period. Advisors Asset Management Inc. boosted its position in Kellanova by 15.8% during the first quarter. Advisors Asset Management Inc. now owns 31,434 shares of the company’s stock worth $1,801,000 after purchasing an additional 4,284 shares during the period. CreativeOne Wealth LLC boosted its position in Kellanova by 56.6% during the first quarter. CreativeOne Wealth LLC now owns 12,142 shares of the company’s stock worth $696,000 after purchasing an additional 4,387 shares during the period. Finally, LGT Group Foundation boosted its position in Kellanova by 49.5% during the first quarter. LGT Group Foundation now owns 8,075 shares of the company’s stock worth $463,000 after purchasing an additional 2,675 shares during the period. Institutional investors own 83.87% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $56.14, for a total value of $4,367,692.00. Following the transaction, the insider now directly owns 51,142,038 shares in the company, valued at approximately $2,871,114,013.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Nicolas Amaya sold 9,800 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $60.05, for a total value of $588,490.00. Following the completion of the sale, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $56.14, for a total value of $4,367,692.00. Following the completion of the sale, the insider now directly owns 51,142,038 shares of the company’s stock, valued at $2,871,114,013.32. The disclosure for this sale can be found here. Insiders have sold a total of 865,600 shares of company stock worth $50,897,082 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on K. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Kellanova from $62.00 to $60.00 and set a “hold” rating for the company in a research report on Tuesday. DA Davidson boosted their target price on shares of Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Barclays reduced their target price on shares of Kellanova from $64.00 to $61.00 and set an “equal weight” rating for the company in a research report on Friday, July 19th. Bank of America cut their price objective on shares of Kellanova from $64.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Thirteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $61.50.

Kellanova Trading Up 0.3 %

NYSE:K traded up $0.19 on Friday, reaching $57.47. 1,805,259 shares of the stock traded hands, compared to its average volume of 1,663,620. The firm has a market capitalization of $19.65 billion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 2.08 and a beta of 0.34. The company’s 50 day moving average is $58.46 and its 200-day moving average is $57.09. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34. Kellanova has a 1-year low of $47.63 and a 1-year high of $67.81.

Kellanova (NYSE:K) last released its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.10 EPS. Equities research analysts anticipate that Kellanova will post 3.61 EPS for the current fiscal year.

Kellanova Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be issued a $0.57 dividend. 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 dividend yield of 3.97%. Kellanova’s dividend payout ratio (DPR) is currently 83.90%.

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.