Valeo Financial Advisors LLC Has $1.05 Million Position in Kellanova (NYSE:K)

Valeo Financial Advisors LLC reduced its position in shares of Kellanova (NYSE:K) by 21.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,296 shares of the company’s stock after selling 5,029 shares during the period. Valeo Financial Advisors LLC’s holdings in Kellanova were worth $1,048,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Intech Investment Management LLC raised its holdings in Kellanova by 10.1% in the 4th quarter. Intech Investment Management LLC now owns 263,880 shares of the company’s stock valued at $14,754,000 after acquiring an additional 24,124 shares in the last quarter. Jump Financial LLC acquired a new position in Kellanova in the 4th quarter valued at $8,178,000. International Assets Investment Management LLC raised its holdings in Kellanova by 133.4% in the 4th quarter. International Assets Investment Management LLC now owns 60,885 shares of the company’s stock valued at $3,404,000 after acquiring an additional 34,800 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in Kellanova in the 4th quarter valued at $889,000. Finally, Banque Cantonale Vaudoise raised its holdings in Kellanova by 35.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 79,701 shares of the company’s stock valued at $4,566,000 after acquiring an additional 20,866 shares in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Stock Down 0.1 %

K stock traded down $0.03 during trading on Wednesday, reaching $56.67. 893,500 shares of the stock were exchanged, compared to its average volume of 2,909,924. The firm has a market cap of $19.37 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 2.04 and a beta of 0.35. Kellanova has a twelve month low of $47.63 and a twelve month high of $68.69. The firm’s 50 day moving average is $59.66 and its 200 day moving average is $56.89. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 earnings per share. As a group, research analysts forecast that Kellanova will post 3.62 EPS for the current year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend was Monday, June 3rd. Kellanova’s dividend payout ratio (DPR) is 83.90%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $55.35, for a total transaction of $4,306,230.00. Following the completion of the transaction, the insider now directly owns 51,997,838 shares of the company’s stock, valued at $2,878,080,333.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $55.35, for a total transaction of $4,306,230.00. Following the sale, the insider now owns 51,997,838 shares in the company, valued at $2,878,080,333.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Nicolas Amaya sold 9,800 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $60.05, for a total value of $588,490.00. Following the sale, the senior vice president now owns 26,191 shares in the company, valued at approximately $1,572,769.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 865,600 shares of company stock valued at $50,941,428. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on K shares. Barclays boosted their price target on Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a report on Monday, May 6th. DA Davidson boosted their price target on Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. JPMorgan Chase & Co. boosted their price target on Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Finally, TD Cowen boosted their price objective on Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $61.83.

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.