Concurrent Investment Advisors LLC Has $441,000 Stake in Kellanova $K

Concurrent Investment Advisors LLC reduced its holdings in shares of Kellanova (NYSE:K) by 6.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,545 shares of the company’s stock after selling 397 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Kellanova were worth $441,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Financial Counselors Inc. bought a new position in shares of Kellanova in the first quarter valued at about $522,000. IFM Investors Pty Ltd grew its stake in Kellanova by 11.6% in the 1st quarter. IFM Investors Pty Ltd now owns 57,241 shares of the company’s stock valued at $4,620,000 after buying an additional 5,957 shares during the last quarter. Syquant Capital Sas raised its holdings in Kellanova by 123.6% in the 2nd quarter. Syquant Capital Sas now owns 1,143,568 shares of the company’s stock valued at $90,948,000 after acquiring an additional 632,168 shares during the period. Retirement Guys Formula LLC bought a new position in Kellanova in the 1st quarter valued at about $934,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Kellanova by 12.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,596 shares of the company’s stock worth $2,771,000 after acquiring an additional 3,747 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Kellanova Trading Up 0.2%

Shares of NYSE:K opened at $83.09 on Friday. The business’s 50 day simple moving average is $80.25 and its 200 day simple moving average is $80.80. Kellanova has a 1 year low of $76.48 and a 1 year high of $83.22. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45. The company has a market capitalization of $28.89 billion, a P/E ratio of 21.81, a P/E/G ratio of 5.16 and a beta of 0.24.

Kellanova (NYSE:K) last released its earnings results on Thursday, July 31st. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.19 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The business’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 earnings per share. On average, research analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a $0.58 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.32 annualized dividend and a yield of 2.8%. This is an increase from Kellanova’s previous quarterly dividend of $0.57. Kellanova’s payout ratio is 60.89%.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the completion of the sale, the insider owned 45,097,438 shares of the company’s stock, valued at approximately $3,587,501,192.90. This represents a 0.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 572,931 shares of company stock valued at $45,755,411. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on K shares. JPMorgan Chase & Co. began coverage on Kellanova in a research report on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 target price on the stock. Wall Street Zen downgraded Kellanova from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Finally, Weiss Ratings upgraded Kellanova from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.38.

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.