Advisor OS LLC Purchases 1,135 Shares of Kellanova (NYSE:K)

Advisor OS LLC lifted its holdings in Kellanova (NYSE:K) by 2.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,156 shares of the company’s stock after acquiring an additional 1,135 shares during the period. Advisor OS LLC’s holdings in Kellanova were worth $2,432,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Blue Trust Inc. increased its holdings in Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after buying an additional 170 shares during the period. Bfsg LLC raised its position in Kellanova by 64.5% during the first quarter. Bfsg LLC now owns 510 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. Family Firm Inc. bought a new stake in Kellanova during the second quarter worth $29,000. BNP Paribas acquired a new stake in shares of Kellanova in the 1st quarter valued at $30,000. Finally, Motco increased its stake in shares of Kellanova by 757.6% in the 4th quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after purchasing an additional 500 shares during the last quarter. 83.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Stifel Nicolaus lifted their price target on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a report on Monday, August 12th. BNP Paribas upgraded shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price objective for the company in a research report on Monday, August 5th. Evercore ISI raised shares of Kellanova to a “hold” rating in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research note on Thursday, August 15th. Fourteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.32.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $57.89, for a total transaction of $4,503,842.00. Following the completion of the sale, the insider now directly owns 51,375,438 shares of the company’s stock, valued at approximately $2,974,124,105.82. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 855,800 shares of company stock worth $55,663,566. 1.80% of the stock is owned by insiders.

Kellanova Price Performance

Shares of NYSE:K opened at $80.12 on Friday. The stock has a market cap of $27.39 billion, a PE ratio of 30.01, a PEG ratio of 2.59 and a beta of 0.39. The company’s fifty day moving average is $67.63 and its 200 day moving average is $61.23. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. Kellanova has a 52 week low of $47.63 and a 52 week high of $80.97.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the prior year, the business earned $1.25 EPS. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. Research analysts anticipate that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is an increase from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s dividend payout ratio (DPR) is presently 85.39%.

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.