Valeo Financial Advisors LLC Cuts Stock Position in Kellanova (NYSE:K)

Valeo Financial Advisors LLC lessened its holdings in Kellanova (NYSE:K) by 21.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 18,296 shares of the company’s stock after selling 5,029 shares during the period. Valeo Financial Advisors LLC’s holdings in Kellanova were worth $1,048,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of K. AQR Capital Management LLC boosted its holdings in shares of Kellanova by 39.3% during the 3rd quarter. AQR Capital Management LLC now owns 463,607 shares of the company’s stock valued at $27,478,000 after purchasing an additional 130,727 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Kellanova by 11.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 28,252 shares of the company’s stock valued at $1,681,000 after purchasing an additional 2,808 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Kellanova by 2.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 262,137 shares of the company’s stock valued at $15,600,000 after purchasing an additional 6,000 shares during the last quarter. Lido Advisors LLC boosted its holdings in shares of Kellanova by 3.4% during the 3rd quarter. Lido Advisors LLC now owns 8,499 shares of the company’s stock valued at $506,000 after purchasing an additional 282 shares during the last quarter. Finally, Royal London Asset Management Ltd. boosted its holdings in shares of Kellanova by 29.8% during the 3rd quarter. Royal London Asset Management Ltd. now owns 122,633 shares of the company’s stock valued at $6,848,000 after purchasing an additional 28,173 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Trading Down 0.1 %

NYSE K traded down $0.03 during trading on Wednesday, hitting $56.67. The stock had a trading volume of 893,500 shares, compared to its average volume of 2,909,924. The stock has a market capitalization of $19.37 billion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 2.04 and a beta of 0.35. The stock has a 50 day simple moving average of $59.66 and a 200 day simple moving average of $56.89. Kellanova has a one year low of $47.63 and a one year high of $68.69. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62.

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

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Monday, June 3rd. Kellanova’s dividend payout ratio (DPR) is presently 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 that occurred on Monday, April 15th. The shares were sold at an average price of $55.35, for a total transaction of $4,306,230.00. Following the transaction, the insider now directly owns 51,997,838 shares of the company’s stock, valued at $2,878,080,333.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $55.35, for a total transaction of $4,306,230.00. Following the transaction, the insider now directly owns 51,997,838 shares of the company’s stock, valued at $2,878,080,333.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the transaction, the senior vice president now directly owns 26,191 shares in the company, valued at $1,572,769.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 865,600 shares of company stock valued at $50,941,428. 1.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.