Profund Advisors LLC Decreases Position in Kellanova $K

Profund Advisors LLC decreased its position in Kellanova (NYSE:K) by 21.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,493 shares of the company’s stock after selling 943 shares during the period. Profund Advisors LLC’s holdings in Kellanova were worth $278,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of K. Vanguard Group Inc. lifted its position in shares of Kellanova by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 32,695,348 shares of the company’s stock valued at $2,697,039,000 after buying an additional 259,604 shares during the last quarter. Pentwater Capital Management LP increased its holdings in Kellanova by 39.0% in the 1st quarter. Pentwater Capital Management LP now owns 8,000,000 shares of the company’s stock worth $659,920,000 after acquiring an additional 2,245,000 shares during the last quarter. Northern Trust Corp raised its stake in Kellanova by 3.0% in the 1st quarter. Northern Trust Corp now owns 4,015,549 shares of the company’s stock valued at $331,243,000 after acquiring an additional 117,650 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Kellanova by 11.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,953,288 shares of the company’s stock valued at $243,617,000 after purchasing an additional 292,063 shares during the last quarter. Finally, Amundi lifted its holdings in Kellanova by 12.0% during the first quarter. Amundi now owns 2,949,498 shares of the company’s stock valued at $243,481,000 after purchasing an additional 316,567 shares during the last quarter. 83.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on K shares. JPMorgan Chase & Co. assumed coverage on shares of Kellanova in a research note on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 target price for the company. Weiss Ratings downgraded shares of Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Finally, Wall Street Zen upgraded shares of Kellanova from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Kellanova has a consensus rating of “Hold” and an average price target of $83.50.

Kellanova Stock Up 0.0%

Kellanova stock opened at $83.32 on Friday. Kellanova has a 12 month low of $76.48 and a 12 month high of $83.45. The stock has a fifty day simple moving average of $81.58 and a two-hundred day simple moving average of $80.92. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03. The firm has a market cap of $28.99 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 5.16 and a beta of 0.23.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.88 by $0.06. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same period last year, the firm posted $0.91 earnings per share. Kellanova’s revenue was up .8% compared to the same quarter last year. Equities analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.58 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.8%. Kellanova’s payout ratio is currently 63.74%.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the firm’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 value of $9,116,350.45. Following the sale, the insider owned 45,097,438 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. 1.80% of the stock is owned by insiders.

About Kellanova

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.