LGT Financial Advisors LLC Has $58,000 Holdings in Kellanova (NYSE:K)

LGT Financial Advisors LLC reduced its position in Kellanova (NYSE:K) by 59.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,010 shares of the company’s stock after selling 1,489 shares during the period. LGT Financial Advisors LLC’s holdings in Kellanova were worth $58,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of K. Yacktman Asset Management LP lifted its stake in Kellanova by 0.5% during the 2nd quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock valued at $123,546,000 after acquiring an additional 10,510 shares in the last quarter. Impact Partnership Wealth LLC lifted its position in shares of Kellanova by 18.8% during the second quarter. Impact Partnership Wealth LLC now owns 9,662 shares of the company’s stock valued at $557,000 after purchasing an additional 1,532 shares in the last quarter. TD Asset Management Inc boosted its holdings in Kellanova by 3.0% during the second quarter. TD Asset Management Inc now owns 1,391,196 shares of the company’s stock worth $80,244,000 after purchasing an additional 40,406 shares during the last quarter. Gries Financial LLC grew its position in Kellanova by 1.7% in the 2nd quarter. Gries Financial LLC now owns 35,735 shares of the company’s stock worth $2,061,000 after purchasing an additional 603 shares in the last quarter. Finally, Strategy Asset Managers LLC purchased a new stake in Kellanova in the 2nd quarter valued at about $592,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Performance

Kellanova stock opened at $80.19 on Friday. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $80.97. The firm’s fifty day moving average price is $67.18 and its 200-day moving average price is $61.10. The stock has a market cap of $27.42 billion, a P/E ratio of 30.03, a price-to-earnings-growth ratio of 2.59 and a beta of 0.34. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The company had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period last year, the firm posted $1.25 EPS. Kellanova’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, equities research analysts expect that Kellanova will post 3.7 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a boost from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a yield of 2.84%. Kellanova’s dividend payout ratio is currently 85.39%.

Analysts Set New Price Targets

K has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Piper Sandler increased their price target on shares of Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Bank of America raised shares of Kellanova from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $62.00 to $70.00 in a research report on Friday, August 2nd. BNP Paribas raised shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 target price for the company in a research report on Monday, August 5th. Finally, Stifel Nicolaus lifted their price target on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Fourteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $74.32.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $57.89, for a total transaction of $4,503,842.00. Following the completion of the sale, the insider now directly owns 51,375,438 shares in the company, valued at approximately $2,974,124,105.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 855,800 shares of company stock valued at $55,663,566 in the last ninety days. Company insiders own 1.80% of the company’s stock.

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.