Capital Investment Advisors LLC Has $1.81 Million Holdings in Kellanova (NYSE:K)

Capital Investment Advisors LLC cut its position in Kellanova (NYSE:K) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,903 shares of the company’s stock after selling 332 shares during the period. Capital Investment Advisors LLC’s holdings in Kellanova were worth $1,807,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in K. Stonebridge Financial Group LLC bought a new position in shares of Kellanova in the fourth quarter worth about $27,000. BankPlus Trust Department bought a new position in shares of Kellanova in the fourth quarter worth about $28,000. Rialto Wealth Management LLC bought a new position in shares of Kellanova in the fourth quarter worth about $32,000. Flagship Wealth Advisors LLC bought a new position in shares of Kellanova in the fourth quarter worth about $32,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after acquiring an additional 173 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $82.31, for a total transaction of $9,431,326.73. Following the completion of the transaction, the insider now owns 47,503,697 shares in the company, valued at approximately $3,910,029,300.07. This represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 1,260,413 shares of company stock valued at $103,715,948 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

K has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. Royal Bank of Canada downgraded shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. Finally, Citigroup raised shares of Kellanova to a “neutral” rating and set a $83.50 target price for the company in a research note on Thursday, May 29th. Fourteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Kellanova presently has an average rating of “Hold” and an average target price of $79.75.

Kellanova Trading Down 0.1%

K opened at $82.06 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The company has a market cap of $28.47 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. The firm has a 50 day simple moving average of $82.33 and a 200 day simple moving average of $81.91. Kellanova has a fifty-two week low of $55.96 and a fifty-two week high of $83.22.

Kellanova (NYSE:K) last issued its earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the company posted $1.01 EPS. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, sell-side analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.78%. Kellanova’s dividend payout ratio is 57.58%.

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.