Kovack Advisors Inc. Lowers Holdings in Kellanova (NYSE:K)

Kovack Advisors Inc. decreased its stake in Kellanova (NYSE:K) by 4.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,200 shares of the company’s stock after selling 279 shares during the quarter. Kovack Advisors Inc.’s holdings in Kellanova were worth $355,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Intech Investment Management LLC boosted its position in Kellanova by 10.1% during the fourth quarter. Intech Investment Management LLC now owns 263,880 shares of the company’s stock worth $14,754,000 after purchasing an additional 24,124 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Kellanova during the fourth quarter valued at approximately $8,178,000. International Assets Investment Management LLC raised its holdings in shares of Kellanova by 133.4% during the fourth 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 during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Kellanova during the fourth quarter valued at approximately $889,000. Finally, Banque Cantonale Vaudoise raised its holdings in shares of Kellanova by 35.5% during the first 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 during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Trading Down 0.1 %

K opened at $56.67 on Friday. Kellanova has a 52 week low of $47.63 and a 52 week high of $68.69. The business has a fifty day simple moving average of $59.62 and a 200-day simple moving average of $56.89. The firm has a market cap of $19.37 billion, a P/E ratio of 21.22, a P/E/G ratio of 2.01 and a beta of 0.34. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last released its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. Kellanova’s revenue was down 4.2% compared to the same quarter last year. During the same period last year, the business posted $1.10 earnings per share. On average, equities analysts expect that Kellanova will post 3.62 earnings per share for the current year.

Kellanova Announces Dividend

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

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $62.31, for a total transaction of $4,847,718.00. Following the completion of the sale, the insider now directly owns 51,686,638 shares of the company’s stock, valued at approximately $3,220,594,413.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the sale, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $62.31, for a total value of $4,847,718.00. Following the sale, the insider now directly owns 51,686,638 shares of the company’s stock, valued at $3,220,594,413.78. The disclosure for this sale can be found here. Over the last three months, insiders sold 865,600 shares of company stock worth $50,941,428. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

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

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.