IFP Advisors Inc Acquires 464 Shares of Kellanova $K

IFP Advisors Inc boosted its holdings in shares of Kellanova (NYSE:K) by 0.9% in the second quarter, Holdings Channel reports. The firm owned 49,949 shares of the company’s stock after purchasing an additional 464 shares during the quarter. IFP Advisors Inc’s holdings in Kellanova were worth $3,976,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Grove Bank & Trust bought a new position in shares of Kellanova in the first quarter valued at approximately $25,000. Financial Network Wealth Advisors LLC bought a new position in shares of Kellanova in the first quarter valued at approximately $25,000. MorganRosel Wealth Management LLC bought a new position in shares of Kellanova in the first quarter valued at approximately $27,000. EQ Wealth Advisors LLC bought a new position in shares of Kellanova in the first quarter valued at approximately $49,000. Finally, Dagco Inc. bought a new position in shares of Kellanova in the first quarter valued at approximately $49,000. Institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

Shares of K stock opened at $82.85 on Friday. Kellanova has a 12-month low of $76.48 and a 12-month high of $83.22. The firm has a market capitalization of $28.80 billion, a price-to-earnings ratio of 21.75, a price-to-earnings-growth ratio of 5.16 and a beta of 0.24. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03. The firm has a fifty day moving average of $79.95 and a 200-day moving average of $80.80.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.05). Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same period last year, the firm earned $1.01 EPS. Kellanova’s quarterly revenue was up .3% on a year-over-year basis. On average, equities research analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a $0.58 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.32 annualized dividend and a yield of 2.8%. This is an increase from Kellanova’s previous quarterly dividend of $0.57. Kellanova’s payout ratio is presently 60.89%.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the business’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total value of $9,116,350.45. Following the sale, the insider directly owned 45,097,438 shares of the company’s stock, valued at approximately $3,587,501,192.90. The trade was a 0.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 687,514 shares of company stock valued at $54,869,342. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on K. JPMorgan Chase & Co. began coverage on shares of Kellanova in a research note on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 target price for the company. Weiss Ratings upgraded shares of Kellanova from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. Finally, Wall Street Zen cut shares of Kellanova from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $83.38.

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.