Foster & Motley Inc. Sells 201 Shares of Kellanova $K

Foster & Motley Inc. cut its position in shares of Kellanova (NYSE:K) by 4.3% in the second quarter, HoldingsChannel reports. The firm owned 4,440 shares of the company’s stock after selling 201 shares during the period. Foster & Motley Inc.’s holdings in Kellanova were worth $353,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of K. Pentwater Capital Management LP raised its position in 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 purchasing an additional 2,245,000 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Kellanova by 66.3% in the 1st quarter. JPMorgan Chase & Co. now owns 2,413,007 shares of the company’s stock valued at $199,049,000 after acquiring an additional 962,172 shares during the period. Syquant Capital Sas increased its holdings in shares of Kellanova by 123.6% in 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 period. Alpine Associates Management Inc. increased its holdings in shares of Kellanova by 89.0% in the 1st quarter. Alpine Associates Management Inc. now owns 1,158,150 shares of the company’s stock valued at $95,536,000 after acquiring an additional 545,300 shares during the period. Finally, PSquared Asset Management AG purchased a new position in shares of Kellanova in the 1st quarter valued at $28,905,000. 83.87% of the stock is owned by institutional investors.

Kellanova Stock Up 0.2%

Shares of K stock opened at $83.09 on Monday. Kellanova has a 1-year low of $76.48 and a 1-year high of $83.22. The stock’s fifty day moving average price is $80.25 and its 200 day moving average price is $80.79. 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 company 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 posted its quarterly earnings results on Thursday, July 31st. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.05). The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.19 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 EPS. On average, research analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The company 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 annualized dividend and a yield of 2.8%. The ex-dividend date was Tuesday, September 2nd. This is a boost from Kellanova’s previous quarterly dividend of $0.57. Kellanova’s dividend payout ratio (DPR) is presently 60.89%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on K shares. Wall Street Zen downgraded Kellanova from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Weiss Ratings upgraded Kellanova from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. began coverage on Kellanova in a report on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 price target on the stock. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Kellanova currently has a consensus rating of “Hold” and a consensus price target of $83.38.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the sale, the insider owned 45,097,438 shares in the company, valued at approximately $3,587,501,192.90. The trade was a 0.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 458,348 shares of company stock worth $36,597,937. 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.