Tyche Wealth Partners LLC Buys New Shares in Kellanova (NYSE:K)

Tyche Wealth Partners LLC acquired a new position in shares of Kellanova (NYSE:K) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 3,679 shares of the company’s stock, valued at approximately $297,000.

A number of other large investors have also made changes to their positions in K. Blue Trust Inc. boosted its stake in Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after buying an additional 170 shares in the last quarter. Family Firm Inc. bought a new stake in Kellanova in the second quarter valued at about $29,000. CVA Family Office LLC increased its stake in Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after acquiring an additional 307 shares during the period. BNP Paribas bought a new position in Kellanova during the first quarter worth about $30,000. Finally, Newbridge Financial Services Group Inc. boosted its holdings in Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Down 0.0 %

Shares of NYSE K opened at $80.56 on Wednesday. Kellanova has a 1 year low of $49.79 and a 1 year high of $81.26. The firm’s 50-day moving average is $80.62 and its 200-day moving average is $67.82. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $27.54 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 2.60 and a beta of 0.39.

Kellanova (NYSE:K) last issued its earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the company posted $1.25 EPS. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. Equities analysts expect that Kellanova will post 3.7 EPS for the current year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. Kellanova’s payout ratio is currently 85.39%.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the completion of the transaction, the insider now owns 50,753,038 shares in the company, valued at approximately $4,062,780,691.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the sale, the insider now owns 49,680,774 shares of the company’s stock, valued at $4,012,219,308.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total value of $6,227,890.00. Following the completion of the transaction, the insider now owns 50,753,038 shares of the company’s stock, valued at $4,062,780,691.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,227,864 shares of company stock valued at $98,438,243 in the last ninety days. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on K. BNP Paribas upgraded Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 target price for the company in a research report on Monday, August 5th. Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research report on Thursday, August 15th. Piper Sandler raised their price objective on shares of Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Finally, Royal Bank of Canada downgraded Kellanova from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $74.32.

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.