Capital Investment Advisory Services LLC Trims Position in Kellanova (NYSE:K)

Capital Investment Advisory Services LLC lessened its position in shares of Kellanova (NYSE:K) by 18.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,395 shares of the company’s stock after selling 994 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in Kellanova were worth $246,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of K. Charles Schwab Investment Management Inc. increased its position in Kellanova by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,559,415 shares of the company’s stock worth $330,841,000 after buying an additional 200,870 shares in the last quarter. Invesco Ltd. increased its position in Kellanova by 29.4% in the third quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock worth $296,971,000 after buying an additional 1,132,485 shares in the last quarter. Van ECK Associates Corp increased its position in Kellanova by 27.4% in the third quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock worth $291,061,000 after buying an additional 1,051,922 shares in the last quarter. Northern Trust Corp increased its position in Kellanova by 8.7% in the third quarter. Northern Trust Corp now owns 4,116,944 shares of the company’s stock worth $244,999,000 after buying an additional 328,658 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Kellanova by 2.6% in the third quarter. Bank of New York Mellon Corp now owns 2,474,763 shares of the company’s stock worth $147,273,000 after buying an additional 61,797 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $53.62, for a total transaction of $4,171,636.00. Following the sale, the insider now directly owns 52,698,038 shares in the company, valued at $2,825,668,797.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 933,600 shares of company stock worth $51,632,748 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Kellanova Price Performance

Shares of Kellanova stock opened at $58.75 on Thursday. The stock has a 50 day moving average of $55.85 and a 200 day moving average of $54.19. Kellanova has a 12 month low of $47.63 and a 12 month high of $72.30. The firm has a market cap of $20.08 billion, a PE ratio of 21.36, a PEG ratio of 2.23 and a beta of 0.40. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The company had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.07 billion. During the same period in the prior year, the company earned $0.94 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. On average, research analysts expect that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.24 dividend on an annualized basis and a yield of 3.81%. Kellanova’s dividend payout ratio (DPR) is presently 81.45%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on K. Citigroup began coverage on Kellanova in a research report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price target for the company. Wells Fargo & Company upped their price target on Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Barclays upped their price target on Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Stifel Nicolaus upped their price objective on Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Finally, JPMorgan Chase & Co. upped their price objective on Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Twelve research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $62.27.

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.