Jones Financial Companies Lllp Acquires 16,950 Shares of Kellanova (NYSE:K)

Jones Financial Companies Lllp grew its position in shares of Kellanova (NYSE:K - Free Report) by 41.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,568 shares of the company's stock after buying an additional 16,950 shares during the period. Jones Financial Companies Lllp's holdings in Kellanova were worth $4,661,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in shares of Kellanova by 127.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,105 shares of the company's stock worth $89,000 after purchasing an additional 619 shares during the period. Sherman Asset Management Inc. bought a new position in shares of Kellanova in the fourth quarter worth $43,000. QRG Capital Management Inc. increased its position in shares of Kellanova by 34.5% in the fourth quarter. QRG Capital Management Inc. now owns 9,062 shares of the company's stock worth $734,000 after purchasing an additional 2,323 shares during the period. Versor Investments LP increased its position in shares of Kellanova by 68.9% in the fourth quarter. Versor Investments LP now owns 92,502 shares of the company's stock worth $7,490,000 after purchasing an additional 37,749 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in shares of Kellanova in the fourth quarter worth $9,919,000. Institutional investors own 83.87% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on K shares. Royal Bank of Canada upgraded Kellanova from a "sector perform" rating to an "outperform" rating and set a $83.50 price target on the stock in a research report on Tuesday, February 18th. StockNews.com began coverage on Kellanova in a research report on Tuesday. They issued a "hold" rating on the stock. Thirteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $77.96.

Kellanova Trading Up 0.0 %

Shares of K stock traded up $0.01 during mid-day trading on Wednesday, reaching $82.37. 2,948,273 shares of the stock traded hands, compared to its average volume of 2,420,868. The stock's fifty day simple moving average is $81.87 and its two-hundred day simple moving average is $81.10. Kellanova has a 1-year low of $52.46 and a 1-year high of $83.22. The company has a market cap of $28.43 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37. 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 (NYSE:K - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 EPS 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%. On average, research analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Monday, March 3rd. Kellanova's dividend payout ratio is currently 58.91%.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $80.64, for a total value of $9,239,973.12. Following the transaction, the insider now directly owns 48,878,693 shares of the company's stock, valued at $3,941,577,803.52. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 1,145,830 shares of company stock valued at $93,461,916 over the last ninety days. 1.80% of the stock is owned by company insiders.

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.