Parallel Advisors LLC Boosts Position in Kellanova (NYSE:K)

Parallel Advisors LLC grew its holdings in Kellanova (NYSE:K) by 7.1% during the 4th quarter, Holdings Channel reports. The fund owned 5,417 shares of the company’s stock after purchasing an additional 360 shares during the period. Parallel Advisors LLC’s holdings in Kellanova were worth $439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Oregon Public Employees Retirement Fund lifted its position in Kellanova by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company’s stock valued at $1,870,000 after purchasing an additional 130 shares during the period. Quent Capital LLC raised its stake in shares of Kellanova by 20.2% during the 4th quarter. Quent Capital LLC now owns 833 shares of the company’s stock valued at $67,000 after buying an additional 140 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Kellanova by 1.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock valued at $690,000 after buying an additional 145 shares during the period. SPC Financial Inc. boosted its stake in shares of Kellanova by 5.7% in the fourth quarter. SPC Financial Inc. now owns 2,976 shares of the company’s stock worth $241,000 after buying an additional 160 shares during the last quarter. Finally, CENTRAL TRUST Co grew its holdings in Kellanova by 0.7% during the fourth quarter. CENTRAL TRUST Co now owns 22,480 shares of the company’s stock worth $1,820,000 after acquiring an additional 162 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on K shares. StockNews.com assumed coverage on Kellanova in a report on Thursday. They issued a “hold” rating for the company. Royal Bank of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. Fourteen analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $77.96.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the completion of the sale, the insider now owns 48,764,110 shares of the company’s stock, valued at approximately $3,942,578,293.50. This represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 1,374,996 shares of company stock valued at $112,530,818 over the last ninety days. Insiders own 1.80% of the company’s stock.

Kellanova Price Performance

Shares of NYSE K opened at $82.40 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The firm has a fifty day moving average of $82.14 and a 200 day moving average of $81.25. The firm has a market cap of $28.44 billion, a PE ratio of 21.29, a PEG ratio of 4.21 and a beta of 0.31. Kellanova has a one year low of $55.01 and a one year high of $83.22.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. As a group, research analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were given a $0.57 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova’s dividend payout ratio (DPR) is presently 58.91%.

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.