Kellanova $K Stock Holdings Raised by FNY Investment Advisers LLC

FNY Investment Advisers LLC lifted its stake in shares of Kellanova (NYSE:K) by 71.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 52,950 shares of the company’s stock after buying an additional 22,127 shares during the quarter. Kellanova accounts for approximately 1.8% of FNY Investment Advisers LLC’s holdings, making the stock its 6th largest holding. FNY Investment Advisers LLC’s holdings in Kellanova were worth $4,211,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Financial Counselors Inc. acquired a new stake in Kellanova during the 1st quarter valued at approximately $522,000. IFM Investors Pty Ltd grew its stake in 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 purchasing an additional 5,957 shares in the last quarter. Syquant Capital Sas grew its stake in 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 purchasing an additional 632,168 shares in the last quarter. Retirement Guys Formula LLC acquired a new stake in Kellanova during the 1st quarter valued at approximately $934,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in 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 purchasing an additional 3,747 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider owned 45,097,438 shares in the company, valued at $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 SEC, which is available through this hyperlink. In the last ninety days, insiders sold 458,348 shares of company stock worth $36,597,937. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on K shares. JPMorgan Chase & Co. started coverage on Kellanova in a research note on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price objective for the company. Weiss Ratings upgraded 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 report on Sunday, September 21st. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Kellanova currently has a consensus rating of “Hold” and an average target price of $83.38.

Kellanova Price Performance

Shares of K opened at $82.99 on Wednesday. The firm has a market cap of $28.85 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 5.16 and a beta of 0.24. The stock has a 50 day moving average of $80.36 and a 200-day moving average of $80.81. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03. Kellanova has a 52 week low of $76.48 and a 52 week high of $83.22.

Kellanova (NYSE:K) last released its quarterly earnings data 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). Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. The company’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Increases Dividend

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

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.