Cantor Fitzgerald Investment Advisors L.P. Trims Stock Position in Kellanova $K

Cantor Fitzgerald Investment Advisors L.P. cut its holdings in shares of Kellanova (NYSE:K) by 77.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,376 shares of the company’s stock after selling 131,363 shares during the period. Cantor Fitzgerald Investment Advisors L.P.’s holdings in Kellanova were worth $2,973,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of K. Grove Bank & Trust bought a new position in shares of Kellanova during the first quarter valued at approximately $25,000. Financial Network Wealth Advisors LLC bought a new position in shares of Kellanova during the first quarter valued at approximately $25,000. MorganRosel Wealth Management LLC bought a new position in shares of Kellanova during the first quarter valued at approximately $27,000. EQ Wealth Advisors LLC acquired a new stake in Kellanova in the first quarter valued at approximately $49,000. Finally, Dagco Inc. acquired a new stake in Kellanova in the first quarter valued at approximately $49,000. 83.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on K. Wall Street Zen downgraded shares of Kellanova from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. JPMorgan Chase & Co. began coverage on shares of Kellanova in a research note on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 target price for the company. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $83.38.

Kellanova Trading Up 0.5%

NYSE:K opened at $82.46 on Thursday. Kellanova has a 12 month low of $76.48 and a 12 month high of $83.22. The firm has a fifty day simple moving average of $79.55 and a 200-day simple moving average of $80.78. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $28.67 billion, a P/E ratio of 21.64, a PEG ratio of 5.11 and a beta of 0.24.

Kellanova (NYSE:K) last posted its earnings results on Thursday, July 31st. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.19 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 earnings per share. On average, equities research analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a $0.58 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from Kellanova’s previous quarterly dividend of $0.57. This represents a $2.32 dividend on an annualized basis and a yield of 2.8%. Kellanova’s dividend payout ratio is presently 60.89%.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of Kellanova stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total value of $9,116,350.45. Following the completion of the transaction, the insider owned 45,097,438 shares of the company’s stock, valued at approximately $3,587,501,192.90. The trade was a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 802,097 shares of company stock valued at $63,999,316 over the last three months. 1.80% of the stock is currently owned by insiders.

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.