Pathway Financial Advisers LLC Lowers Position in Kellanova (NYSE:K)

Pathway Financial Advisers LLC decreased its stake in shares of Kellanova (NYSE:K) by 13.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,831 shares of the company’s stock after selling 285 shares during the period. Pathway Financial Advisers LLC’s holdings in Kellanova were worth $105,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Blue Trust Inc. increased its position in shares of Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after acquiring an additional 170 shares in the last quarter. Family Firm Inc. acquired a new position in Kellanova during the 2nd quarter worth approximately $29,000. BNP Paribas purchased a new position in Kellanova in the 1st quarter worth approximately $30,000. Ridgewood Investments LLC acquired a new stake in Kellanova in the second quarter valued at approximately $39,000. Finally, YHB Investment Advisors Inc. purchased a new stake in shares of Kellanova during the first quarter valued at approximately $42,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

Shares of NYSE:K opened at $80.65 on Wednesday. The company has a market cap of $27.57 billion, a PE ratio of 30.21, a P/E/G ratio of 2.59 and a beta of 0.39. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $81.00. The firm has a 50-day simple moving average of $75.61 and a 200 day simple moving average of $64.38. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46.

Kellanova (NYSE:K) last posted its earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The business’s revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.25 earnings per share. On average, sell-side analysts anticipate that Kellanova will post 3.7 EPS for the current year.

Kellanova Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. This is a boost from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date was Tuesday, September 3rd. Kellanova’s dividend payout ratio (DPR) is presently 85.39%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on K. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a research note on Friday, August 2nd. Bank of America upgraded Kellanova from a “neutral” rating to a “buy” rating and raised their target price for the company from $62.00 to $70.00 in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. DA Davidson lowered Kellanova from a “buy” rating to a “neutral” rating and raised their price objective for the company from $80.00 to $83.50 in a research note on Monday, August 26th. Finally, StockNews.com started coverage on Kellanova in a research report on Wednesday, September 25th. They issued a “hold” rating on the stock. Fourteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Kellanova currently has a consensus rating of “Hold” and a consensus target price of $74.32.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $56.14, for a total value of $4,367,692.00. Following the completion of the transaction, the insider now owns 51,142,038 shares in the company, valued at approximately $2,871,114,013.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $56.14, for a total transaction of $4,367,692.00. Following the completion of the transaction, the insider now owns 51,142,038 shares in the company, valued at approximately $2,871,114,013.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the sale, the insider now owns 50,368,272 shares in the company, valued at $4,062,201,136.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,080,732 shares of company stock valued at $79,115,595. 1.80% of the stock is currently 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.