Kellanova $K Shares Sold by Aull & Monroe Investment Management Corp

Aull & Monroe Investment Management Corp lowered its position in Kellanova (NYSE:K) by 27.6% in the second quarter, Holdings Channel.com reports. The firm owned 2,629 shares of the company’s stock after selling 1,000 shares during the quarter. Aull & Monroe Investment Management Corp’s holdings in Kellanova were worth $209,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Kellanova by 0.8% in the first quarter. Vanguard Group Inc. now owns 32,695,348 shares of the company’s stock valued at $2,697,039,000 after purchasing an additional 259,604 shares during the period. Keybank National Association OH lifted its position in Kellanova by 0.7% in the first quarter. Keybank National Association OH now owns 19,718,498 shares of the company’s stock valued at $1,626,579,000 after purchasing an additional 128,439 shares during the period. Pentwater Capital Management LP lifted its position in shares of Kellanova by 39.0% during the 1st quarter. Pentwater Capital Management LP now owns 8,000,000 shares of the company’s stock valued at $659,920,000 after acquiring an additional 2,245,000 shares during the period. Northern Trust Corp lifted its position in shares of Kellanova by 3.0% during the 1st quarter. Northern Trust Corp now owns 4,015,549 shares of the company’s stock valued at $331,243,000 after acquiring an additional 117,650 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Kellanova by 11.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,953,288 shares of the company’s stock worth $243,617,000 after acquiring an additional 292,063 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. assumed coverage on Kellanova in a research note on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price target on the stock. Weiss Ratings raised Kellanova from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered Kellanova from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $83.38.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of Kellanova stock in a transaction that occurred 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 sale, the insider directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 572,931 shares of company stock valued at $45,755,411. 1.80% of the stock is currently owned by insiders.

Kellanova Trading Up 0.2%

Shares of K opened at $83.09 on Friday. 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 50 day simple moving average of $80.25 and a 200-day simple moving average of $80.80. Kellanova has a 1-year low of $76.48 and a 1-year high of $83.22. The stock has a market cap of $28.89 billion, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 5.16 and a beta of 0.24.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same period last year, the business earned $1.01 earnings per share. The company’s revenue for the quarter was up .3% on a year-over-year basis. Equities analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Increases Dividend

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

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.