SG Americas Securities LLC Invests $3.79 Million in Kellanova (NYSE:K)

SG Americas Securities LLC bought a new position in Kellanova (NYSE:K) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 45,983 shares of the company’s stock, valued at approximately $3,793,000.

Several other institutional investors have also recently made changes to their positions in K. Apollon Wealth Management LLC grew its stake in shares of Kellanova by 13.4% in the 4th quarter. Apollon Wealth Management LLC now owns 6,388 shares of the company’s stock worth $517,000 after acquiring an additional 757 shares in the last quarter. Kingsview Wealth Management LLC grew its position in Kellanova by 20.9% during the fourth quarter. Kingsview Wealth Management LLC now owns 3,465 shares of the company’s stock valued at $281,000 after buying an additional 598 shares during the period. Savant Capital LLC grew its position in Kellanova by 5.4% during the fourth quarter. Savant Capital LLC now owns 14,778 shares of the company’s stock valued at $1,197,000 after buying an additional 763 shares during the period. Stonebridge Financial Group LLC bought a new position in Kellanova during the fourth quarter valued at about $27,000. Finally, Quent Capital LLC grew its position in Kellanova by 20.2% during the fourth 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 period. Institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

Shares of NYSE:K opened at $79.87 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $27.71 billion, a PE ratio of 20.64, a P/E/G ratio of 4.21 and a beta of 0.30. Kellanova has a twelve month low of $55.96 and a twelve month high of $83.22. The company has a 50-day moving average price of $82.22 and a two-hundred day moving average price of $81.90.

Kellanova (NYSE:K) last issued its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Kellanova’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.01 EPS. Equities analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.85%. Kellanova’s payout ratio is 57.58%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $82.44, for a total value of $9,446,222.52. Following the completion of the transaction, the insider now directly owns 47,389,114 shares in the company, valued at approximately $3,906,758,558.16. This trade represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 1,260,413 shares of company stock worth $103,673,553. 1.80% of the stock is owned by company insiders.

Analyst Ratings Changes

K has been the subject of several research reports. Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Wall Street Zen lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Finally, Citigroup upgraded shares of Kellanova to a “neutral” rating and set a $83.50 price target for the company in a research report on Thursday, May 29th. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Kellanova has a consensus rating of “Hold” and a consensus price target of $79.75.

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.