Kellanova (NYSE:K) Position Trimmed by Capital Investment Advisors LLC

Capital Investment Advisors LLC reduced its holdings in Kellanova (NYSE:K) by 6.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 22,235 shares of the company’s stock after selling 1,604 shares during the quarter. Capital Investment Advisors LLC’s holdings in Kellanova were worth $1,800,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Choreo LLC boosted its holdings in shares of Kellanova by 101.2% during the second quarter. Choreo LLC now owns 7,966 shares of the company’s stock valued at $453,000 after acquiring an additional 4,007 shares during the period. American Century Companies Inc. boosted its stake in Kellanova by 14.7% during the 2nd quarter. American Century Companies Inc. now owns 36,893 shares of the company’s stock valued at $2,128,000 after purchasing an additional 4,737 shares during the period. Meeder Advisory Services Inc. bought a new position in Kellanova in the 2nd quarter worth about $222,000. Oppenheimer Asset Management Inc. increased its stake in shares of Kellanova by 37.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 75,075 shares of the company’s stock valued at $4,330,000 after purchasing an additional 20,315 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Kellanova by 2.2% during the second quarter. Envestnet Asset Management Inc. now owns 211,081 shares of the company’s stock valued at $12,175,000 after buying an additional 4,566 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.96, for a total value of $9,276,639.68. Following the completion of the sale, the insider now owns 49,795,357 shares of the company’s stock, valued at $4,031,432,102.72. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders have sold 916,664 shares of company stock valued at $74,179,888. 1.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

K has been the topic of several analyst reports. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research report on Friday, November 1st. Argus cut Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com began coverage on shares of Kellanova in a research note on Tuesday, January 7th. They set a “hold” rating on the stock. Fifteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.35.

Kellanova Stock Down 0.1 %

NYSE K opened at $81.39 on Tuesday. Kellanova has a 12 month low of $52.46 and a 12 month high of $81.58. The company has a market capitalization of $28.05 billion, a P/E ratio of 27.97, a PEG ratio of 2.59 and a beta of 0.37. The company’s 50 day simple moving average is $80.91 and its 200 day simple moving average is $76.00. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 earnings per share. Equities research analysts expect that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a $0.57 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.80%. Kellanova’s dividend payout ratio (DPR) is 78.35%.

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.