Kellanova $K Stock Holdings Lifted by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. boosted its stake in shares of Kellanova (NYSE:K) by 37.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,953 shares of the company’s stock after purchasing an additional 534 shares during the period. Geneos Wealth Management Inc.’s holdings in Kellanova were worth $161,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in K. Grove Bank & Trust purchased a new position in Kellanova during the first quarter valued at approximately $25,000. Financial Network Wealth Advisors LLC purchased a new position in Kellanova during the first quarter valued at approximately $25,000. MorganRosel Wealth Management LLC purchased a new position in Kellanova during the first quarter valued at approximately $27,000. EQ Wealth Advisors LLC purchased a new position in Kellanova during the first quarter valued at approximately $49,000. Finally, Dagco Inc. purchased a new position in Kellanova during the first quarter valued at approximately $49,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Citigroup raised shares of Kellanova to a “neutral” rating and set a $83.50 price objective on the stock in a research report on Thursday, May 29th. Wall Street Zen raised shares of Kellanova from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, JPMorgan Chase & Co. began coverage on shares of Kellanova in a research report on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 target price for the company. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $83.38.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the company’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the completion of the transaction, the insider directly owned 45,097,438 shares in the company, valued at $3,587,501,192.90. This represents a 0.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have sold 1,031,263 shares of company stock worth $82,079,367. 1.80% of the stock is owned by corporate insiders.

Kellanova Price Performance

Shares of Kellanova stock opened at $79.43 on Wednesday. The firm has a fifty day simple moving average of $79.75 and a 200-day simple moving average of $81.04. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03. Kellanova has a 1-year low of $77.70 and a 1-year high of $83.22. The stock has a market capitalization of $27.62 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 4.92 and a beta of 0.27.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.19 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.Kellanova’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 earnings per share. On average, sell-side analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.9%. The ex-dividend date was Tuesday, September 2nd. This is an increase from Kellanova’s previous quarterly dividend of $0.57. Kellanova’s dividend payout ratio is currently 60.89%.

Kellanova 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.