Bright Financial Advisors Inc. Purchases New Stake in Kellanova (NYSE:K)

Bright Financial Advisors Inc. purchased a new stake in Kellanova (NYSE:K) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,782 shares of the company’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of K. Investors Research Corp raised its stake in Kellanova by 1.0% during the third quarter. Investors Research Corp now owns 12,991 shares of the company’s stock worth $1,049,000 after acquiring an additional 125 shares in the last quarter. Assetmark Inc. raised its stake in Kellanova by 26.2% during the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after acquiring an additional 131 shares in the last quarter. MCF Advisors LLC raised its stake in Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after acquiring an additional 137 shares in the last quarter. S.A. Mason LLC raised its stake in Kellanova by 7.6% during the third quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock worth $160,000 after acquiring an additional 140 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its stake in Kellanova by 1.7% during the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock worth $690,000 after acquiring an additional 145 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on K shares. StockNews.com started coverage on Kellanova in a report on Friday, January 31st. They set a “hold” rating on the stock. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a report on Friday, November 1st. Fourteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average 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 firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $81.91, for a total transaction of $9,385,493.53. Following the transaction, the insider now directly owns 48,305,778 shares in the company, valued at approximately $3,956,726,275.98. This trade represents a 0.24 % 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 1,031,247 shares of company stock worth $83,724,652 in the last quarter. Insiders own 1.80% of the company’s stock.

Kellanova Stock Up 0.2 %

K stock opened at $82.05 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $82.16. The stock’s 50 day simple moving average is $81.20 and its 200 day simple moving average is $78.97. The company has a market cap of $28.28 billion, a P/E ratio of 28.19, a price-to-earnings-growth ratio of 2.51 and a beta of 0.37.

Kellanova (NYSE:K) last issued its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. On average, research analysts expect that Kellanova will post 3.75 earnings per share for the current fiscal year.

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.