Xponance Inc. Sells 277 Shares of Kellanova (NYSE:K)

Xponance Inc. reduced its position in shares of Kellanova (NYSE:K) by 0.8% in the second quarter, HoldingsChannel reports. The firm owned 36,071 shares of the company’s stock after selling 277 shares during the quarter. Xponance Inc.’s holdings in Kellanova were worth $2,081,000 as of its most recent filing with the Securities & Exchange Commission.

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

Kellanova Stock Performance

Kellanova stock opened at $80.64 on Friday. 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 has a twelve month low of $47.63 and a twelve month high of $80.97. The company’s 50-day moving average price is $73.82 and its 200-day moving average price is $63.62. The company has a market cap of $27.57 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K) last issued its quarterly earnings data 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. The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.25 earnings per share. On average, equities research analysts forecast that Kellanova will post 3.7 EPS for the current fiscal year.

Kellanova Increases Dividend

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

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred 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 $2,871,114,013.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, 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 completion of the sale, the insider now owns 50,368,272 shares in the company, valued at approximately $4,062,201,136.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated 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 directly owns 51,142,038 shares of the company’s stock, valued at $2,871,114,013.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 966,149 shares of company stock valued at $69,866,455. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

K has been the topic of several analyst reports. Bank of America raised shares of Kellanova from a “neutral” rating to a “buy” rating and lifted their price target for the company from $62.00 to $70.00 in a report on Friday, August 2nd. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a research note on Friday, August 2nd. Royal Bank of Canada lowered Kellanova from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $76.00 to $83.50 in a research note on Thursday, August 15th. Stifel Nicolaus boosted their price objective on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Finally, BNP Paribas raised Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 target price on the stock in a research note on Monday, August 5th. Fourteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently 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.