HighTower Advisors LLC Has $1.29 Million Position in Kellanova (NYSE:K)

HighTower Advisors LLC lessened its holdings in Kellanova (NYSE:K) by 12.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,945 shares of the company’s stock after selling 2,210 shares during the period. HighTower Advisors LLC’s holdings in Kellanova were worth $1,291,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of K. Blue Trust Inc. lifted 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 valued at $27,000 after purchasing an additional 170 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of Kellanova in the 2nd quarter valued at $29,000. CVA Family Office LLC lifted its position in Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after acquiring an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its position in Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares during the last quarter. Finally, MCF Advisors LLC lifted its position in Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after acquiring an additional 137 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $80.57, for a total value of $9,231,952.31. Following the transaction, the insider now directly owns 50,024,523 shares in the company, valued at $4,030,475,818.11. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 1,031,247 shares of company stock worth $83,327,049. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on K. Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. StockNews.com began coverage on shares of Kellanova in a research report on Saturday. They set a “hold” rating for the company. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a research report on Friday, November 1st. Finally, DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kellanova presently has an average rating of “Hold” and a consensus target price of $76.35.

Kellanova Price Performance

Shares of Kellanova stock opened at $80.65 on Tuesday. Kellanova has a 1-year low of $52.46 and a 1-year high of $81.34. The firm’s 50-day moving average price is $80.82 and its two-hundred day moving average price is $72.89. The stock has a market capitalization of $27.80 billion, a price-to-earnings ratio of 27.71, a P/E/G ratio of 2.59 and a beta of 0.38. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last announced its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the business earned $1.03 earnings per share. Kellanova’s quarterly revenue was down .7% on a year-over-year basis. On average, equities analysts predict that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.83%. Kellanova’s payout ratio is 78.35%.

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.