Farther Finance Advisors LLC Increases Position in Kellanova $K

Farther Finance Advisors LLC boosted its stake in Kellanova (NYSE:K) by 93.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,415 shares of the company’s stock after acquiring an additional 2,136 shares during the period. Farther Finance Advisors LLC’s holdings in Kellanova were worth $351,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in K. Grove Bank & Trust acquired a new position in shares of Kellanova in the first quarter valued at approximately $25,000. Financial Network Wealth Advisors LLC purchased a new position in Kellanova in the 1st quarter valued at $25,000. MorganRosel Wealth Management LLC purchased a new position in Kellanova in the 1st quarter valued at $27,000. EQ Wealth Advisors LLC acquired a new position in Kellanova in the 1st quarter valued at $49,000. Finally, Dagco Inc. purchased a new position in Kellanova during the 1st quarter worth $49,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kellanova

In other 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 shares were sold at an average price of $79.55, for a total value of $9,116,350.45. Following the completion of the sale, the insider owned 45,097,438 shares of the company’s stock, valued at approximately $3,587,501,192.90. The trade was a 0.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 802,097 shares of company stock valued at $63,999,316. 1.80% of the stock is currently owned by insiders.

Kellanova Stock Up 5.1%

K stock opened at $81.88 on Tuesday. 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 firm has a 50 day simple moving average of $79.46 and a 200-day simple moving average of $80.76. The company has a market capitalization of $28.47 billion, a P/E ratio of 21.49, a PEG ratio of 4.85 and a beta of 0.27. Kellanova has a twelve month low of $76.48 and a twelve month high of $83.22.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.05). The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.19 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The company’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the company earned $1.01 earnings per share. On average, equities research analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from Kellanova’s previous quarterly dividend of $0.57. Kellanova’s payout ratio is presently 60.89%.

Analyst Upgrades and Downgrades

K has been the topic of several analyst reports. Wall Street Zen downgraded shares of Kellanova from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. JPMorgan Chase & Co. started coverage on shares of Kellanova in a research report on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 price objective for the company. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $83.38.

About Kellanova

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.