Blair William & Co. IL Boosts Stock Holdings in Kellanova $K

Blair William & Co. IL boosted its position in Kellanova (NYSE:K) by 11.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,608 shares of the company’s stock after purchasing an additional 1,062 shares during the period. Blair William & Co. IL’s holdings in Kellanova were worth $844,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Pinnacle Associates Ltd. grew its position in Kellanova by 2.0% in the first quarter. Pinnacle Associates Ltd. now owns 6,373 shares of the company’s stock worth $526,000 after acquiring an additional 123 shares in the last quarter. Independent Advisor Alliance boosted its position in Kellanova by 1.8% during the first quarter. Independent Advisor Alliance now owns 7,334 shares of the company’s stock valued at $605,000 after buying an additional 131 shares during the period. Sequoia Financial Advisors LLC boosted its position in Kellanova by 1.3% during the first quarter. Sequoia Financial Advisors LLC now owns 10,423 shares of the company’s stock valued at $860,000 after buying an additional 132 shares during the period. Cigna Investments Inc. New boosted its position in Kellanova by 5.3% during the second quarter. Cigna Investments Inc. New now owns 2,797 shares of the company’s stock valued at $222,000 after buying an additional 141 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its position in Kellanova by 32.7% during the second quarter. Capital Advisors Ltd. LLC now owns 718 shares of the company’s stock valued at $57,000 after buying an additional 177 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

Kellanova stock opened at $82.88 on Friday. 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 moving average of $80.19 and a 200-day moving average of $80.81. The firm has a market cap of $28.81 billion, a P/E ratio of 21.75, a P/E/G ratio of 5.15 and a beta of 0.24. Kellanova has a 1-year low of $76.48 and a 1-year high of $83.22.

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

Kellanova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.8%. This is a boost from Kellanova’s previous quarterly dividend of $0.57. The ex-dividend date was Tuesday, September 2nd. Kellanova’s dividend payout ratio (DPR) is 60.89%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the firm’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 directly owned 45,097,438 shares in the company, valued at $3,587,501,192.90. This trade represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 572,931 shares of company stock valued at $45,755,411 in the last ninety days. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wall Street Zen lowered shares of Kellanova from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Weiss Ratings upgraded shares of Kellanova from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Kellanova in a research report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price target for the company. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $83.38.

Kellanova Company 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.