Kellanova $K Shares Sold by LRI Investments LLC

LRI Investments LLC lessened its holdings in shares of Kellanova (NYSE:K) by 3.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,874 shares of the company’s stock after selling 200 shares during the quarter. LRI Investments LLC’s holdings in Kellanova were worth $388,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Financial Counselors Inc. acquired a new position in shares of Kellanova during the 1st quarter valued at about $522,000. IFM Investors Pty Ltd boosted its position in shares of Kellanova by 11.6% during the 1st quarter. IFM Investors Pty Ltd now owns 57,241 shares of the company’s stock valued at $4,620,000 after acquiring an additional 5,957 shares during the last quarter. Syquant Capital Sas boosted its position in shares of Kellanova by 123.6% during the 2nd quarter. Syquant Capital Sas now owns 1,143,568 shares of the company’s stock valued at $90,948,000 after acquiring an additional 632,168 shares during the last quarter. Retirement Guys Formula LLC acquired a new position in shares of Kellanova during the 1st quarter valued at about $934,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Kellanova by 12.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,596 shares of the company’s stock valued at $2,771,000 after acquiring an additional 3,747 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Down 0.0%

Shares of NYSE:K opened at $82.85 on Monday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45. The firm has a market capitalization of $28.80 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 5.16 and a beta of 0.24. The firm’s 50-day moving average is $79.95 and its two-hundred day moving average is $80.78. Kellanova has a 1 year low of $76.48 and a 1 year high of $83.22.

Kellanova (NYSE:K) last issued its quarterly 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 analysts’ expectations of $3.19 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the company earned $1.01 earnings per share. Analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.8%. This is a boost from Kellanova’s previous quarterly dividend of $0.57. The ex-dividend date was Tuesday, September 2nd. Kellanova’s payout ratio is currently 60.89%.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the sale, the insider directly owned 45,097,438 shares in the company, valued at approximately $3,587,501,192.90. This represents 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 the SEC website. Insiders have sold 572,931 shares of company stock worth $45,755,411 in the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on K shares. Weiss Ratings raised shares of Kellanova from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. started coverage on shares of Kellanova in a report on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 price objective on the stock. Finally, Wall Street Zen lowered shares of Kellanova from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $83.38.

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.