Envestnet Asset Management Inc. Acquires 35,377 Shares of Kellanova (NYSE:K)

Envestnet Asset Management Inc. raised its holdings in Kellanova (NYSE:K - Free Report) by 102.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,962 shares of the company's stock after purchasing an additional 35,377 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Kellanova were worth $5,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

K has been the subject of several recent research reports. Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. StockNews.com began coverage on shares of Kellanova in a report on Monday. They issued a "buy" rating on the stock. Thirteen investment 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, Kellanova has an average rating of "Hold" and a consensus price target of $77.96.

Kellanova Price Performance

NYSE:K traded down $0.06 during midday trading on Friday, hitting $82.72. The company had a trading volume of 1,298,045 shares, compared to its average volume of 2,743,358. The company has a market capitalization of $28.55 billion, a PE ratio of 21.37, a P/E/G ratio of 4.21 and a beta of 0.34. 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 52-week low of $55.96 and a 52-week high of $83.22. The stock's fifty day moving average price is $82.39 and its 200-day moving average price is $81.57.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, research analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were given a dividend of $0.57 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.28 annualized dividend and a yield of 2.76%. Kellanova's payout ratio is 58.91%.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, February 10th. The shares were sold at an average price of $82.23, for a total value of $9,422,160.09. Following the transaction, the insider now directly owns 48,191,195 shares of the company's stock, valued at $3,962,761,964.85. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 1,260,413 shares of company stock worth $103,737,719. Company insiders own 1.80% of the company's stock.

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.