Kovack Advisors Inc. Has $362,000 Position in Kellanova (NYSE:K)

Kovack Advisors Inc. decreased its holdings in shares of Kellanova (NYSE:K) by 12.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,479 shares of the company’s stock after selling 938 shares during the period. Kovack Advisors Inc.’s holdings in Kellanova were worth $362,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Kellanova by 3.7% in the 3rd 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 during the last quarter. Invesco Ltd. boosted 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 purchasing an additional 1,132,485 shares during the last quarter. Van ECK Associates Corp grew its stake in Kellanova by 27.4% in the 3rd quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock valued at $291,061,000 after purchasing an additional 1,051,922 shares during the period. Northern Trust Corp increased its position in shares of Kellanova by 8.7% during the 3rd quarter. Northern Trust Corp now owns 4,116,944 shares of the company’s stock valued at $244,999,000 after purchasing an additional 328,658 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Kellanova by 2.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,474,763 shares of the company’s stock worth $147,273,000 after purchasing an additional 61,797 shares during the period. 83.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on K. Stifel Nicolaus increased their target price on shares of Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. StockNews.com downgraded Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Citigroup assumed coverage on Kellanova in a research report on Thursday, February 1st. They set a “neutral” rating and a $57.00 price target on the stock. Wells Fargo & Company boosted their price objective on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Finally, DA Davidson began coverage on shares of Kellanova in a research report on Friday, March 1st. They set a “buy” rating and a $67.00 target price for the company. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Kellanova currently has a consensus rating of “Hold” and a consensus target price of $62.27.

Kellanova Stock Performance

Shares of NYSE K opened at $58.21 on Tuesday. The stock’s 50-day moving average is $56.02 and its 200 day moving average is $54.40. The stock has a market cap of $19.89 billion, a price-to-earnings ratio of 21.17, a P/E/G ratio of 2.21 and a beta of 0.40. Kellanova has a 1-year low of $47.63 and a 1-year high of $72.30. 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 posted its quarterly earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same period last year, the firm posted $0.94 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. On average, sell-side analysts anticipate that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 3.85%. Kellanova’s payout ratio is 81.45%.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $53.67, for a total value of $4,175,526.00. Following the transaction, the insider now directly owns 52,620,238 shares of the company’s stock, valued at approximately $2,824,128,173.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 933,600 shares of company stock valued at $51,891,044. 1.80% of the stock is currently owned by insiders.

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.