Savant Capital LLC Has $745,000 Holdings in Kellanova (NYSE:K)

Savant Capital LLC grew its stake in shares of Kellanova (NYSE:K) by 221.5% in the second quarter, HoldingsChannel.com reports. The firm owned 12,914 shares of the company’s stock after purchasing an additional 8,897 shares during the period. Savant Capital LLC’s holdings in Kellanova were worth $745,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Intech Investment Management LLC grew its holdings in Kellanova by 10.1% during the fourth quarter. Intech Investment Management LLC now owns 263,880 shares of the company’s stock worth $14,754,000 after buying an additional 24,124 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Kellanova by 4.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock worth $14,705,000 after acquiring an additional 10,676 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Kellanova by 498.7% in the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock worth $15,049,000 after acquiring an additional 217,320 shares in the last quarter. Banque Cantonale Vaudoise raised its holdings in shares of Kellanova by 35.5% in the first quarter. Banque Cantonale Vaudoise now owns 79,701 shares of the company’s stock valued at $4,566,000 after purchasing an additional 20,866 shares during the last quarter. Finally, M&G Plc bought a new position in shares of Kellanova during the first quarter valued at about $9,346,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Stock Performance

Shares of K stock opened at $79.92 on Thursday. The firm’s 50 day moving average is $69.01 and its 200 day moving average is $61.80. The stock has a market capitalization of $27.32 billion, a P/E ratio of 29.93, a PEG ratio of 2.57 and a beta of 0.38. Kellanova has a 12 month low of $47.63 and a 12 month high of $80.97. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46.

Kellanova (NYSE:K) last posted its earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. The firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.25 earnings per share. On average, sell-side analysts anticipate that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Tuesday, September 3rd. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s payout ratio is presently 85.39%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on K shares. Stifel Nicolaus increased their price objective on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Piper Sandler increased 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. BNP Paribas raised Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price objective on the stock in a research report on Monday, August 5th. StockNews.com initiated coverage on Kellanova in a research report on Monday. They set a “hold” rating for the company. Finally, The Goldman Sachs Group started coverage on shares of Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price target on the stock. Fourteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $74.32.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $57.71, for a total value of $4,489,838.00. Following the sale, the insider now directly owns 51,297,638 shares in the company, valued at approximately $2,960,386,688.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $57.71, for a total value of $4,489,838.00. Following the transaction, the insider now directly owns 51,297,638 shares in the company, valued at approximately $2,960,386,688.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the sale, the insider now directly owns 50,482,855 shares in the company, valued at approximately $4,051,249,113.75. The disclosure for this sale can be found here. Insiders have sold a total of 970,383 shares of company stock worth $64,858,852 over the last ninety days. Company insiders own 1.80% of the company’s stock.

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.