Quantinno Capital Management LP Increases Stake in Kellanova (NYSE:K)

Quantinno Capital Management LP increased its position in Kellanova (NYSE:K) by 15.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 97,504 shares of the company’s stock after acquiring an additional 13,348 shares during the quarter. Quantinno Capital Management LP’s holdings in Kellanova were worth $7,870,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. CVA Family Office LLC increased its holdings in Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after acquiring an additional 307 shares during the last quarter. MCF Advisors LLC boosted its stake in Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after purchasing an additional 137 shares during the period. Blue Trust Inc. boosted its stake in Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares during the period. Family Firm Inc. bought a new position in Kellanova in the 2nd quarter worth about $29,000. Finally, Newbridge Financial Services Group Inc. boosted its stake in Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

Shares of NYSE K opened at $80.78 on Friday. The stock has a market cap of $27.84 billion, a price-to-earnings ratio of 27.76, a P/E/G ratio of 2.59 and a beta of 0.38. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. Kellanova has a 1-year low of $52.46 and a 1-year high of $81.34. The stock’s 50-day moving average is $80.82 and its 200 day moving average is $71.84.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. Kellanova’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the firm posted $1.03 EPS. On average, sell-side analysts anticipate that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. Kellanova’s dividend payout ratio (DPR) is currently 78.35%.

Wall Street Analyst Weigh In

K has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Barclays raised their target price on Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Royal Bank of Canada downgraded Kellanova from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. Stifel Nicolaus lifted their price target on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Finally, Piper Sandler lifted their price target on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Kellanova currently has a consensus rating of “Hold” and a consensus target price of $76.35.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the transaction, the insider now directly owns 50,482,855 shares of the company’s stock, valued at $4,051,249,113.75. The trade was a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 1,145,830 shares of company stock valued at $92,516,606 in the last ninety days. Company insiders own 1.80% of the company’s stock.

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.