CoreFirst Bank & Trust Makes New $60,000 Investment in Kellanova (NYSE:K)

CoreFirst Bank & Trust bought a new position in Kellanova (NYSE:K) in the 4th quarter, Holdings Channel reports. The firm bought 745 shares of the company’s stock, valued at approximately $60,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Stonebridge Financial Group LLC bought a new position in shares of Kellanova during the fourth quarter valued at approximately $27,000. BankPlus Trust Department purchased a new stake in Kellanova during the fourth quarter worth $28,000. Rialto Wealth Management LLC bought a new stake in Kellanova during the 4th quarter valued at $32,000. Flagship Wealth Advisors LLC purchased a new position in shares of Kellanova in the 4th quarter valued at $32,000. Finally, First Horizon Advisors Inc. raised its position in shares of Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after acquiring an additional 173 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. StockNews.com started coverage on shares of Kellanova in a report on Thursday, March 20th. They issued a “hold” rating on the stock. Fourteen analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $77.96.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $82.31, for a total value of $9,431,326.73. Following the sale, the insider now directly owns 47,503,697 shares of the company’s stock, valued at approximately $3,910,029,300.07. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 1,260,413 shares of company stock valued at $103,290,845 over the last quarter. 1.80% of the stock is currently owned by company insiders.

Kellanova Stock Down 0.1 %

NYSE:K opened at $82.38 on Wednesday. The company’s 50 day moving average is $82.18 and its two-hundred day moving average is $81.29. The company has a market cap of $28.44 billion, a PE ratio of 21.29, a P/E/G ratio of 4.21 and a beta of 0.31. Kellanova has a twelve month low of $55.01 and a twelve month high of $83.22. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

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

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.