Hussman Strategic Advisors Inc. Sells 10,500 Shares of Kellanova (NYSE:K)

Hussman Strategic Advisors Inc. reduced its stake in shares of Kellanova (NYSE:K) by 16.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 52,500 shares of the company’s stock after selling 10,500 shares during the quarter. Kellanova comprises about 0.8% of Hussman Strategic Advisors Inc.’s holdings, making the stock its 29th largest position. Hussman Strategic Advisors Inc.’s holdings in Kellanova were worth $3,028,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of K. Blue Trust Inc. boosted its stake in Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after acquiring an additional 170 shares during the last quarter. Zhang Financial LLC boosted its stake in Kellanova by 0.8% in the first quarter. Zhang Financial LLC now owns 21,318 shares of the company’s stock valued at $1,221,000 after acquiring an additional 176 shares during the last quarter. IFG Advisory LLC boosted its stake in Kellanova by 1.4% in the second quarter. IFG Advisory LLC now owns 13,825 shares of the company’s stock valued at $797,000 after acquiring an additional 189 shares during the last quarter. Bfsg LLC boosted its position in shares of Kellanova by 64.5% during the first quarter. Bfsg LLC now owns 510 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares in the last quarter. Finally, Financial Advisors Network Inc. boosted its position in shares of Kellanova by 4.2% during the fourth quarter. Financial Advisors Network Inc. now owns 5,040 shares of the company’s stock worth $282,000 after purchasing an additional 204 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

K has been the topic of a number of recent analyst reports. Barclays lifted their price target on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. DA Davidson cut shares of Kellanova from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. The Goldman Sachs Group initiated coverage on shares of Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 price target on the stock. StockNews.com started coverage on shares of Kellanova in a research report on Sunday. They set a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a report on Thursday, August 15th. Fourteen analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $74.32.

Kellanova Stock Up 0.1 %

K stock traded up $0.08 during midday trading on Friday, hitting $80.61. The company’s stock had a trading volume of 4,352,913 shares, compared to its average volume of 7,278,803. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48. Kellanova has a twelve month low of $47.63 and a twelve month high of $80.97. The company’s fifty day moving average price is $65.84 and its 200 day moving average price is $60.56. The stock has a market capitalization of $27.59 billion, a P/E ratio of 30.19, a PEG ratio of 2.59 and a beta of 0.34.

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

Kellanova Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.57 per share. The ex-dividend date is Tuesday, September 3rd. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. Kellanova’s payout ratio is currently 83.90%.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $57.71, for a total transaction of $4,489,838.00. Following the completion of the sale, the insider now owns 51,297,638 shares of the company’s stock, valued at approximately $2,960,386,688.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 855,800 shares of company stock worth $55,663,566 in the last ninety days. Insiders own 1.80% of the company’s stock.

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.