Valeo Financial Advisors LLC Reduces Holdings in Kellanova (NYSE:K)

Valeo Financial Advisors LLC lowered its stake in shares of Kellanova (NYSE:K) by 17.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,349 shares of the company’s stock after selling 3,058 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Kellanova were worth $1,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Blue Trust Inc. boosted its holdings in shares of Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after buying an additional 170 shares in the last quarter. Family Firm Inc. bought a new stake in Kellanova during the second quarter worth about $29,000. BNP Paribas purchased a new stake in Kellanova in the first quarter worth about $30,000. Newbridge Financial Services Group Inc. increased its stake in shares of Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of Kellanova during the second quarter valued at approximately $39,000. 83.87% of the stock is owned by institutional investors.

Kellanova Stock Performance

Shares of K opened at $80.55 on Monday. The firm has a market capitalization of $27.54 billion, a P/E ratio of 30.17, a PEG ratio of 2.59 and a beta of 0.39. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48. Kellanova has a one year low of $47.63 and a one year high of $81.00. The business has a fifty day moving average of $79.23 and a 200 day moving average of $65.81.

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

Kellanova Increases Dividend

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

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 29th. The stock was sold at an average price of $57.23, for a total value of $4,452,494.00. Following the completion of the sale, the insider now owns 50,908,638 shares in the company, valued at $2,913,501,352.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on 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 transaction, the insider now owns 50,368,272 shares in the company, valued at approximately $4,062,201,136.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $57.23, for a total value of $4,452,494.00. Following the completion of the sale, the insider now owns 50,908,638 shares of the company’s stock, valued at $2,913,501,352.74. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,039,715 shares of company stock valued at $79,608,273 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on K shares. DA Davidson downgraded Kellanova from a “buy” rating to a “neutral” rating and upped their price target for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft raised their price target on Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a report on Thursday, August 15th. Royal Bank of Canada cut shares of Kellanova from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from $76.00 to $83.50 in a research note on Thursday, August 15th. Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and raised their price objective for the company from $62.00 to $70.00 in a research note on Friday, August 2nd. Finally, Evercore ISI upgraded shares of Kellanova to a “hold” rating in a research note on Friday, August 2nd. Fifteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.32.

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.