Capital Investment Advisors LLC Has $1.92 Million Holdings in Kellanova (NYSE:K)

Capital Investment Advisors LLC trimmed its stake in shares of Kellanova (NYSE:K) by 6.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,839 shares of the company’s stock after selling 1,580 shares during the period. Capital Investment Advisors LLC’s holdings in Kellanova were worth $1,924,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in Kellanova by 11.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock worth $150,909,000 after purchasing an additional 277,171 shares during the last quarter. Yacktman Asset Management LP raised its stake in shares of Kellanova by 0.5% during the second quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock worth $123,546,000 after buying an additional 10,510 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in Kellanova by 766.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock valued at $108,532,000 after buying an additional 1,664,461 shares during the period. Maverick Capital Ltd. bought a new position in Kellanova in the second quarter valued at approximately $88,065,000. Finally, TD Asset Management Inc grew its holdings in Kellanova by 3.0% during the 2nd quarter. TD Asset Management Inc now owns 1,391,196 shares of the company’s stock worth $80,244,000 after acquiring an additional 40,406 shares during the period. 83.87% of the stock is owned by institutional investors.

Kellanova Price Performance

NYSE:K opened at $81.05 on Friday. Kellanova has a 12-month low of $49.28 and a 12-month high of $81.21. The firm has a market capitalization of $27.71 billion, a price-to-earnings ratio of 30.36, a P/E/G ratio of 2.59 and a beta of 0.39. The stock’s 50 day moving average price is $80.19 and its two-hundred day moving average price is $66.58. 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 (NYSE:K) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, beating 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%. The company’s revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 earnings per share. On average, analysts anticipate that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were paid a $0.57 dividend. This is a boost from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date was Tuesday, September 3rd. This represents a $2.28 annualized dividend and a yield of 2.81%. Kellanova’s payout ratio is 85.39%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. BNP Paribas upgraded Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price objective for the company in a report on Monday, August 5th. Barclays boosted their price objective on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Royal Bank of Canada lowered shares of Kellanova from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. StockNews.com began coverage on Kellanova in a report on Saturday. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Fifteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $74.32.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the transaction, the insider now directly owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the sale, the insider now directly owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $80.62, for a total value of $6,272,236.00. Following the completion of the transaction, the insider now directly owns 50,597,438 shares of the company’s stock, valued at approximately $4,079,165,451.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,154,298 shares of company stock valued at $88,847,101 in the last quarter. Company 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.