Mount Yale Investment Advisors LLC Has $318,000 Position in Kellanova (NYSE:K)

Mount Yale Investment Advisors LLC lessened its holdings in shares of Kellanova (NYSE:K) by 26.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,506 shares of the company’s stock after selling 2,011 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Kellanova were worth $318,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. raised its holdings in Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares during the last quarter. Family Firm Inc. bought a new position in Kellanova during the second quarter worth $29,000. BNP Paribas acquired a new position in Kellanova in the first quarter valued at $30,000. Ridgewood Investments LLC bought a new stake in Kellanova during the second quarter valued at $39,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Kellanova by 139.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 736 shares of the company’s stock worth $41,000 after acquiring an additional 428 shares during the period. Institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

K has been the topic of a number of recent analyst reports. StockNews.com began coverage on Kellanova in a research note on Wednesday. They issued a “hold” rating on the stock. Barclays boosted their price target on Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Bank of America raised shares of Kellanova from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $62.00 to $70.00 in a research report on Friday, August 2nd. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a research report on Friday, August 2nd. Finally, BNP Paribas upgraded shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price target for the company in a report on Monday, August 5th. Fourteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $74.32.

Kellanova Trading Up 0.1 %

NYSE:K opened at $80.67 on Wednesday. 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 one year low of $47.63 and a one year high of $80.97. The company has a market cap of $27.58 billion, a PE ratio of 30.21, a PEG ratio of 2.57 and a beta of 0.39. The firm has a 50-day moving average of $73.35 and a 200-day moving average of $63.44.

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. The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.25 earnings per share. As a group, equities research analysts expect that Kellanova will post 3.7 EPS for the current fiscal year.

Kellanova Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. This is an increase from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, September 3rd. Kellanova’s payout ratio is currently 85.39%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $80.68, for a total value of $9,244,556.44. Following the completion of the sale, the insider now directly owns 50,253,689 shares of the company’s stock, valued at approximately $4,054,467,628.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $56.14, for a total transaction of $4,367,692.00. Following the completion of the sale, the insider now directly owns 51,142,038 shares of the company’s stock, valued at approximately $2,871,114,013.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $80.68, for a total value of $9,244,556.44. Following the sale, the insider now owns 50,253,689 shares in the company, valued at $4,054,467,628.52. The disclosure for this sale can be found here. Insiders sold a total of 1,043,949 shares of company stock worth $74,350,847 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

About Kellanova

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.