Kellanova $K Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC reduced its stake in shares of Kellanova (NYSE:K) by 11.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,863 shares of the company’s stock after selling 657 shares during the quarter. Parallel Advisors LLC’s holdings in Kellanova were worth $387,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Grove Bank & Trust acquired a new position in shares of Kellanova in the 1st quarter worth approximately $25,000. Financial Network Wealth Advisors LLC acquired a new position in Kellanova during the 1st quarter valued at approximately $25,000. MorganRosel Wealth Management LLC acquired a new position in Kellanova during the 1st quarter valued at approximately $27,000. EQ Wealth Advisors LLC acquired a new position in Kellanova during the 1st quarter valued at approximately $49,000. Finally, Dagco Inc. bought a new stake in Kellanova during the 1st quarter valued at $49,000. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. JPMorgan Chase & Co. assumed coverage on Kellanova in a research note on Wednesday, August 20th. They set a “neutral” rating and a $83.50 target price on the stock. Wall Street Zen raised Kellanova from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, Citigroup raised Kellanova to a “neutral” rating and set a $83.50 price objective on the stock in a research note on Thursday, May 29th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $83.38.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $79.55, for a total value of $9,116,350.45. Following the transaction, the insider owned 45,097,438 shares in the company, valued at $3,587,501,192.90. The trade was a 0.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 1,031,263 shares of company stock valued at $82,079,367 in the last quarter. Insiders own 1.80% of the company’s stock.

Kellanova Stock Down 1.0%

NYSE:K opened at $77.40 on Friday. The firm has a market capitalization of $26.91 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 4.82 and a beta of 0.27. Kellanova has a 1-year low of $77.20 and a 1-year high of $83.22. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03. The business’s fifty day moving average price is $79.67 and its 200 day moving average price is $80.95.

Kellanova (NYSE:K) last issued its earnings results on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter last year, the firm earned $1.01 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. On average, sell-side analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 3.0%. This is an increase from Kellanova’s previous quarterly dividend of $0.57. The ex-dividend date was Tuesday, September 2nd. Kellanova’s dividend payout ratio is presently 60.89%.

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.