Anchor Investment Management LLC Cuts Stock Position in Kellanova (NYSE:K)

Anchor Investment Management LLC trimmed its holdings in shares of Kellanova (NYSE:K) by 1.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 42,849 shares of the company’s stock after selling 788 shares during the period. Anchor Investment Management LLC’s holdings in Kellanova were worth $2,472,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Stifel Financial Corp grew its position in shares of Kellanova by 101.6% during the fourth quarter. Stifel Financial Corp now owns 131,173 shares of the company’s stock worth $7,334,000 after buying an additional 66,103 shares in the last quarter. KBC Group NV increased its position in shares of Kellanova by 92.4% in the 4th quarter. KBC Group NV now owns 55,818 shares of the company’s stock worth $3,121,000 after purchasing an additional 26,809 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Kellanova by 14.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,229 shares of the company’s stock valued at $181,000 after purchasing an additional 407 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Kellanova by 208.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 30,855 shares of the company’s stock worth $1,725,000 after purchasing an additional 20,840 shares during the last quarter. Finally, Morningstar Investment Management LLC acquired a new position in Kellanova in the fourth quarter worth about $226,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Stock Down 0.1 %

Kellanova stock opened at $80.59 on Thursday. Kellanova has a 52 week low of $47.63 and a 52 week high of $81.00. The stock has a market cap of $27.55 billion, a price-to-earnings ratio of 30.18, a PEG ratio of 2.59 and a beta of 0.39. The company’s 50-day moving average price is $76.09 and its two-hundred day moving average price is $64.57. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46.

Kellanova (NYSE:K) last announced its earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 earnings per share. On average, analysts expect that Kellanova will post 3.7 EPS for the current fiscal year.

Kellanova Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts have commented on K shares. JPMorgan Chase & Co. lifted their price objective on shares of Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday. Bank of America raised shares of Kellanova from a “neutral” rating to a “buy” rating and raised their target price for the stock from $62.00 to $70.00 in a report on Friday, August 2nd. Evercore ISI raised Kellanova to a “hold” rating in a report on Friday, August 2nd. Finally, BNP Paribas raised Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price target on the stock in a report on Monday, August 5th. Fifteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Kellanova currently has an average rating of “Hold” and a consensus price target of $74.32.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $80.72, for a total transaction of $9,249,139.76. Following the completion of the sale, the insider now owns 50,139,106 shares in the company, valued at approximately $4,047,228,636.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the transaction, the insider now directly owns 50,597,438 shares of the company’s stock, valued at $4,079,165,451.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $80.72, for a total value of $9,249,139.76. Following the completion of the sale, the insider now directly owns 50,139,106 shares of the company’s stock, valued at $4,047,228,636.32. The disclosure for this sale can be found here. Insiders have sold a total of 1,080,732 shares of company stock valued at $79,115,595 over the last three months. Company insiders own 1.80% of the company’s stock.

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.