Kovack Advisors Inc. Cuts Holdings in Kellanova (NYSE:K)

Kovack Advisors Inc. cut its stake in Kellanova (NYSE:K) by 4.3% during the 1st quarter, HoldingsChannel reports. The firm owned 6,200 shares of the company’s stock after selling 279 shares during the quarter. Kovack Advisors Inc.’s holdings in Kellanova were worth $355,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Baker Avenue Asset Management LP raised its position in Kellanova by 205.4% in the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after purchasing an additional 341 shares during the period. Motco raised its position in Kellanova by 757.6% in the fourth quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after purchasing an additional 500 shares during the period. Blue Trust Inc. grew its stake in shares of Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after acquiring an additional 206 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Kellanova by 139.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 736 shares of the company’s stock valued at $41,000 after acquiring an additional 428 shares in the last quarter. Finally, Northwest Financial Advisors acquired a new stake in shares of Kellanova during the fourth quarter valued at about $42,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $55.35, for a total value of $4,306,230.00. Following the completion of the transaction, the insider now directly owns 51,997,838 shares in the company, valued at $2,878,080,333.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $55.35, for a total transaction of $4,306,230.00. Following the sale, the insider now owns 51,997,838 shares of the company’s stock, valued at $2,878,080,333.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $60.05, for a total value of $588,490.00. Following the sale, the senior vice president now directly owns 26,191 shares in the company, valued at approximately $1,572,769.55. The disclosure for this sale can be found here. Insiders sold a total of 865,600 shares of company stock worth $50,941,428 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Barclays raised their target price on Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. TD Cowen raised their target price on Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Finally, DA Davidson raised their target price on Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Kellanova has a consensus rating of “Hold” and a consensus price target of $61.83.

Kellanova Stock Down 0.1 %

NYSE:K opened at $56.67 on Friday. The company has a market capitalization of $19.37 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 2.01 and a beta of 0.34. Kellanova has a one year low of $47.63 and a one year high of $68.69. The stock has a 50-day simple moving average of $59.62 and a 200 day simple moving average of $56.89. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62.

Kellanova (NYSE:K) last issued its earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the firm posted $1.10 earnings per share. Kellanova’s quarterly revenue was down 4.2% compared to the same quarter last year. Sell-side analysts predict that Kellanova will post 3.62 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.95%. Kellanova’s payout ratio is currently 83.90%.

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.