Advisors Asset Management Inc. Has $2.55 Million Stake in Kellanova (NYSE:K)

Advisors Asset Management Inc. increased its position in shares of Kellanova (NYSE:K) by 6.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,551 shares of the company’s stock after purchasing an additional 1,984 shares during the period. Advisors Asset Management Inc.’s holdings in Kellanova were worth $2,546,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in K. CVA Family Office LLC increased its holdings in shares of Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after purchasing an additional 307 shares during the period. MCF Advisors LLC increased its stake in Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after acquiring an additional 137 shares during the period. Blue Trust Inc. increased its stake in Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after acquiring an additional 170 shares during the period. Family Firm Inc. acquired a new position in Kellanova in the 2nd quarter valued at $29,000. Finally, Newbridge Financial Services Group Inc. lifted its position in shares of Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after acquiring an additional 200 shares during the period. 83.87% of the stock is currently owned by institutional investors.

Kellanova Price Performance

Kellanova stock opened at $81.17 on Friday. The stock has a 50-day moving average price of $80.77 and a two-hundred day moving average price of $70.65. Kellanova has a 12 month low of $51.02 and a 12 month high of $81.34. The company has a market capitalization of $27.98 billion, a PE ratio of 27.89, a P/E/G ratio of 2.60 and a beta of 0.39. 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 (NYSE:K) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the business earned $1.03 EPS. The firm’s quarterly revenue was down .7% on a year-over-year basis. Analysts expect that Kellanova will post 3.74 EPS for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.81%. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the completion of the sale, the insider now owns 50,597,438 shares of the company’s stock, valued at approximately $4,079,165,451.56. This represents a 0.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 1,109,047 shares of company stock valued at $89,483,556 over the last 90 days. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on K shares. StockNews.com began coverage on Kellanova in a research note on Wednesday. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft upped their price target on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. lifted their price objective on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. The Goldman Sachs Group initiated coverage on shares of Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective for the company. Finally, Stifel Nicolaus raised their target price on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a report on Monday, August 12th. Fifteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $76.35.

Kellanova Company 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.