Capital Investment Advisors LLC Sells 795 Shares of Kellanova $K

Capital Investment Advisors LLC lowered its stake in Kellanova (NYSE:K) by 3.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,108 shares of the company’s stock after selling 795 shares during the quarter. Capital Investment Advisors LLC’s holdings in Kellanova were worth $1,679,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of K. Grove Bank & Trust bought a new position in Kellanova in the first quarter valued at approximately $25,000. Financial Network Wealth Advisors LLC acquired a new position in Kellanova during the first quarter worth $25,000. MorganRosel Wealth Management LLC bought a new position in Kellanova in the first quarter valued at $27,000. EQ Wealth Advisors LLC bought a new position in Kellanova in the first quarter valued at $49,000. Finally, Dagco Inc. bought a new position in Kellanova in the first quarter valued at $49,000. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

Shares of K stock opened at $82.46 on Thursday. The stock has a market cap of $28.67 billion, a P/E ratio of 21.64, a P/E/G ratio of 5.11 and a beta of 0.24. 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 fifty day moving average price of $79.55 and a two-hundred day moving average price of $80.78. Kellanova has a one year low of $76.48 and a one year high of $83.22.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). The firm had revenue of $3.20 billion during 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 business’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.01 EPS. As a group, equities analysts predict 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. Shareholders of record on Tuesday, September 2nd were paid a $0.58 dividend. This is an increase 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%. The ex-dividend date was Tuesday, September 2nd. Kellanova’s dividend payout ratio is 60.89%.

Analysts Set New Price Targets

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

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider owned 45,097,438 shares in the company, valued at approximately $3,587,501,192.90. This trade represents a 0.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 802,097 shares of company stock worth $63,999,316. Company insiders own 1.80% of the company’s stock.

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.