Johnson Investment Counsel Inc. Has $381,000 Holdings in Kellanova (NYSE:K)

Johnson Investment Counsel Inc. cut its stake in Kellanova (NYSE:K) by 4.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,659 shares of the company’s stock after selling 282 shares during the period. Johnson Investment Counsel Inc.’s holdings in Kellanova were worth $381,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Kellanova by 23.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 127,528 shares of the company’s stock worth $8,595,000 after buying an additional 23,843 shares during the last quarter. Shelton Capital Management grew its stake in Kellanova by 4.6% in the second quarter. Shelton Capital Management now owns 9,067 shares of the company’s stock valued at $611,000 after purchasing an additional 400 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Kellanova by 5.9% during the 2nd quarter. Quadrant Capital Group LLC now owns 4,662 shares of the company’s stock worth $314,000 after purchasing an additional 260 shares during the last quarter. Ledyard National Bank raised its stake in shares of Kellanova by 6.6% during the 2nd quarter. Ledyard National Bank now owns 4,263 shares of the company’s stock worth $287,000 after purchasing an additional 263 shares in the last quarter. Finally, Private Advisor Group LLC boosted its holdings in shares of Kellanova by 9.8% in the 2nd quarter. Private Advisor Group LLC now owns 29,763 shares of the company’s stock valued at $2,000,000 after buying an additional 2,668 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Trading Down 0.5 %

Shares of Kellanova stock opened at $52.52 on Tuesday. The firm has a 50-day moving average of $53.53 and a 200-day moving average of $61.47. The stock has a market cap of $17.99 billion, a PE ratio of 22.07, a PEG ratio of 2.75 and a beta of 0.42. Kellanova has a 52-week low of $47.63 and a 52-week high of $74.72. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.51 and a current ratio of 0.76.

Kellanova (NYSE:K) last posted its quarterly earnings results on Wednesday, November 8th. The company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.12. The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $4.04 billion. Kellanova had a return on equity of 34.38% and a net margin of 5.21%. Kellanova’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. As a group, sell-side analysts forecast that Kellanova will post 3.95 EPS for the current year.

Kellanova Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Monday, October 30th. Kellanova’s dividend payout ratio (DPR) is presently 100.84%.

Wall Street Analyst Weigh In

K has been the topic of several analyst reports. BNP Paribas raised shares of Kellanova from an “underperform” rating to a “neutral” rating and set a $55.00 price target on the stock in a research report on Tuesday, October 3rd. The Goldman Sachs Group cut their target price on shares of Kellanova from $82.00 to $73.00 and set a “buy” rating for the company in a research note on Tuesday, October 3rd. StockNews.com began coverage on Kellanova in a research report on Monday. They set a “hold” rating on the stock. Barclays raised Kellanova from an “underweight” rating to an “equal weight” rating and cut their price objective for the company from $57.00 to $55.00 in a research report on Thursday, November 9th. Finally, TD Cowen started coverage on Kellanova in a research note on Wednesday, September 13th. They issued a “market perform” rating and a $63.00 price target on the stock. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $63.54.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $51.87, for a total value of $4,035,486.00. Following the completion of the transaction, the insider now owns 53,631,638 shares of the company’s stock, valued at $2,781,873,063.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 700,200 shares of company stock valued at $38,149,230 over the last quarter. 1.40% of the stock is owned by corporate insiders.

Kellanova Company Profile

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods. The company operates through four segments: North America, Europe, Latin America, Asia, the Middle East, 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.