IAG Wealth Partners LLC Purchases Shares of 800 Kellanova (NYSE:K)

IAG Wealth Partners LLC purchased a new stake in Kellanova (NYSE:K) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 800 shares of the company’s stock, valued at approximately $66,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Kellanova by 22.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 19,849 shares of the company’s stock worth $1,637,000 after buying an additional 3,665 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Kellanova by 1.1% during the 1st quarter. Fifth Third Bancorp now owns 18,264 shares of the company’s stock worth $1,507,000 after buying an additional 204 shares during the last quarter. CX Institutional lifted its stake in shares of Kellanova by 10.1% during the 1st quarter. CX Institutional now owns 6,063 shares of the company’s stock worth $500,000 after buying an additional 557 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Kellanova during the 1st quarter worth about $3,793,000. Finally, GAMMA Investing LLC lifted its stake in shares of Kellanova by 2.8% during the 1st quarter. GAMMA Investing LLC now owns 6,889 shares of the company’s stock worth $568,000 after buying an additional 186 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $82.44, for a total transaction of $9,446,222.52. Following the sale, the insider now directly owns 47,389,114 shares of the company’s stock, valued at approximately $3,906,758,558.16. The trade was a 0.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 1,260,413 shares of company stock valued at $103,673,553. 1.80% of the stock is owned by insiders.

Kellanova Price Performance

K stock opened at $79.87 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. The firm has a market cap of $27.71 billion, a P/E ratio of 20.64, a P/E/G ratio of 4.21 and a beta of 0.30. The company’s 50-day moving average price is $82.22 and its two-hundred day moving average price is $81.90.

Kellanova (NYSE:K) last released its earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the prior year, the business earned $1.01 earnings per share. Kellanova’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.85%. Kellanova’s dividend payout ratio (DPR) is presently 57.58%.

Analyst Ratings Changes

A number of research firms have recently issued reports on K. Citigroup upgraded shares of Kellanova to a “neutral” rating and set a $83.50 target price for the company in a research note on Thursday, May 29th. Wall Street Zen lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Finally, Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Fourteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $79.75.

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.