Valeo Financial Advisors LLC Has $1.03 Million Stock Holdings in Kellanova $K

Valeo Financial Advisors LLC cut its holdings in shares of Kellanova (NYSE:K) by 5.6% in the second quarter, Holdings Channel reports. The institutional investor owned 12,947 shares of the company’s stock after selling 775 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Kellanova were worth $1,030,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Grove Bank & Trust acquired a new position in Kellanova during the 1st quarter valued at $25,000. Financial Network Wealth Advisors LLC acquired a new position in shares of Kellanova during the first quarter valued at about $25,000. MorganRosel Wealth Management LLC acquired a new position in shares of Kellanova during the first quarter valued at about $27,000. EQ Wealth Advisors LLC acquired a new position in shares of Kellanova during the first quarter valued at about $49,000. Finally, Dagco Inc. acquired a new position in shares of Kellanova during the first quarter valued at about $49,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $3,587,501,192.90. This trade represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 687,514 shares of company stock worth $54,869,342. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on K shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kellanova in a report on Saturday, September 27th. JPMorgan Chase & Co. began coverage on Kellanova in a research report on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 target price for the company. Finally, Wall Street Zen cut Kellanova from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $83.38.

Kellanova Trading Up 0.3%

Shares of K opened at $82.89 on Wednesday. Kellanova has a 1 year low of $76.48 and a 1 year high of $83.22. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03. The stock has a 50 day simple moving average of $79.77 and a 200-day simple moving average of $80.78. The stock has a market cap of $28.82 billion, a PE ratio of 21.75, a PEG ratio of 5.15 and a beta of 0.24.

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 the consensus estimate of $0.99 by ($0.05). Kellanova had a return on equity of 32.54% and a net margin of 10.56%.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 company earned $1.01 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. On average, sell-side analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Increases Dividend

The company also recently announced 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. This is an increase from Kellanova’s previous quarterly dividend of $0.57. The ex-dividend date 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%.

About Kellanova

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.