Atria Wealth Solutions Inc. Has $234,000 Position in Kellanova $K

Atria Wealth Solutions Inc. reduced its stake in Kellanova (NYSE:K) by 53.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,947 shares of the company’s stock after selling 3,333 shares during the period. Atria Wealth Solutions Inc.’s holdings in Kellanova were worth $234,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of K. Pentwater Capital Management LP boosted its position in shares of Kellanova by 39.0% in the first 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. JPMorgan Chase & Co. boosted its position in shares of Kellanova by 66.3% in the first 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 boosted its position in shares of Kellanova by 123.6% in the second 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. boosted its position in shares of Kellanova by 89.0% in the first 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 bought a new stake in shares of Kellanova in the first quarter valued at about $28,905,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Kellanova Price Performance

Shares of Kellanova stock opened at $83.01 on Thursday. 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 business’s 50 day simple moving average is $80.42 and its two-hundred day simple moving average is $80.83. The stock has a market capitalization of $28.86 billion, a P/E ratio of 21.79, a price-to-earnings-growth ratio of 5.16 and a beta of 0.24. Kellanova has a one year low of $76.48 and a one year high of $83.22.

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 the consensus estimate of $0.99 by ($0.05). Kellanova had a net margin of 10.56% and a return on equity of 32.54%. 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 firm posted $1.01 earnings per share. Kellanova’s quarterly revenue was up .3% on a year-over-year basis. Analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid 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 annualized dividend and a yield of 2.8%. Kellanova’s payout ratio is currently 60.89%.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the company’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total value of $9,116,350.45. Following the sale, the insider directly owned 45,097,438 shares of the company’s stock, valued at $3,587,501,192.90. This represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 458,348 shares of company stock valued at $36,597,937 over the last 90 days. 1.80% of the stock is owned by corporate 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.