Kellanova (NYSE:K) Stock Holdings Lowered by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its position in Kellanova (NYSE:K) by 5.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 65,834 shares of the company’s stock after selling 3,668 shares during the period. Pacer Advisors Inc.’s holdings in Kellanova were worth $3,797,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Wells Fargo & Company MN boosted its position in Kellanova by 21.1% during the 4th quarter. Wells Fargo & Company MN now owns 470,778 shares of the company’s stock worth $26,321,000 after acquiring an additional 82,085 shares during the period. Franklin Resources Inc. raised its stake in shares of Kellanova by 26.4% during the fourth quarter. Franklin Resources Inc. now owns 427,825 shares of the company’s stock valued at $23,920,000 after purchasing an additional 89,334 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Kellanova by 139.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 736 shares of the company’s stock worth $41,000 after purchasing an additional 428 shares during the period. SageView Advisory Group LLC bought a new position in Kellanova in the 4th quarter valued at about $225,000. Finally, Advisory Services Network LLC increased its stake in Kellanova by 11.7% during the 4th quarter. Advisory Services Network LLC now owns 28,234 shares of the company’s stock valued at $1,579,000 after buying an additional 2,950 shares during the period. 83.87% of the stock is currently owned by institutional investors.

Kellanova Stock Up 0.1 %

K stock opened at $80.67 on Wednesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48. The firm has a market capitalization of $27.58 billion, a P/E ratio of 30.21, a P/E/G ratio of 2.57 and a beta of 0.39. Kellanova has a 52-week low of $47.63 and a 52-week high of $80.97. The company’s 50 day simple moving average is $73.35 and its 200-day simple moving average is $63.44.

Kellanova (NYSE:K) last released its 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 company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the company earned $1.25 earnings per share. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, equities research analysts anticipate that Kellanova will post 3.7 EPS for the current year.

Kellanova Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were issued a $0.57 dividend. This is an increase from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.83%. Kellanova’s dividend payout ratio is currently 85.39%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Monday, July 8th. The shares were sold at an average price of $56.14, for a total transaction of $4,367,692.00. Following the completion of the sale, the insider now owns 51,142,038 shares of the company’s stock, valued at approximately $2,871,114,013.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 stock was sold at an average price of $56.14, for a total value of $4,367,692.00. Following the transaction, the insider now directly owns 51,142,038 shares of the company’s stock, valued at approximately $2,871,114,013.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 value of $9,241,118.95. Following the sale, the insider now owns 50,368,272 shares of the company’s stock, valued at $4,062,201,136.80. The disclosure for this sale can be found here. Insiders sold 1,043,949 shares of company stock valued at $74,350,847 over the last three months. 1.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on K shares. The Goldman Sachs Group began coverage on shares of Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price objective for the company. Royal Bank of Canada lowered Kellanova from an “outperform” rating to a “sector perform” rating and increased their price target for the company from $76.00 to $83.50 in a research note on Thursday, August 15th. BNP Paribas raised Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price objective on the stock in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft raised their target price on Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, Evercore ISI upgraded shares of Kellanova to a “hold” rating in a research report on Friday, August 2nd. Fourteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.