IFP Advisors Inc Has $3.98 Million Stake in Kellanova $K

IFP Advisors Inc boosted its holdings in shares of Kellanova (NYSE:K) by 0.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,949 shares of the company’s stock after buying an additional 464 shares during the quarter. IFP Advisors Inc’s holdings in Kellanova were worth $3,976,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Financial Counselors Inc. acquired a new position in Kellanova during the first quarter worth $522,000. IFM Investors Pty Ltd grew its position in shares of Kellanova by 11.6% in the first quarter. IFM Investors Pty Ltd now owns 57,241 shares of the company’s stock valued at $4,620,000 after purchasing an additional 5,957 shares during the last quarter. Syquant Capital Sas grew its position in shares of Kellanova by 123.6% in the second quarter. Syquant Capital Sas now owns 1,143,568 shares of the company’s stock valued at $90,948,000 after purchasing an additional 632,168 shares during the last quarter. Retirement Guys Formula LLC acquired a new stake in shares of Kellanova in the first quarter valued at about $934,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Kellanova by 12.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,596 shares of the company’s stock valued at $2,771,000 after purchasing an additional 3,747 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on K. Weiss Ratings raised Kellanova from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. JPMorgan Chase & Co. began coverage on Kellanova in a research report on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 price target on the stock. Finally, Wall Street Zen downgraded Kellanova from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $83.38.

Kellanova Stock Down 0.0%

K stock opened at $82.85 on Friday. Kellanova has a twelve month low of $76.48 and a twelve month high of $83.22. The company has a market cap of $28.80 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 5.16 and a beta of 0.24. The business’s 50-day simple moving average is $79.95 and its 200 day simple moving average is $80.80. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03.

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). Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period last year, the business earned $1.01 earnings per share. The firm’s quarterly revenue was up .3% compared to the same quarter last year. On average, research analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.58 per share. This is a positive change from Kellanova’s previous quarterly dividend of $0.57. This represents a $2.32 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Tuesday, September 2nd. Kellanova’s dividend payout ratio is 60.89%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the firm’s stock in a transaction dated 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 transaction, the insider owned 45,097,438 shares in the company, valued at $3,587,501,192.90. This trade represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 687,514 shares of company stock worth $54,869,342 in the last three months. 1.80% of the stock is owned by company insiders.

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.