Advisors Asset Management Inc. Trims Stock Holdings in Kellanova $K

Advisors Asset Management Inc. trimmed its holdings in Kellanova (NYSE:K) by 25.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,412 shares of the company’s stock after selling 6,836 shares during the quarter. Advisors Asset Management Inc.’s holdings in Kellanova were worth $1,623,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Avantax Advisory Services Inc. raised its holdings in shares of Kellanova by 66.1% in the first quarter. Avantax Advisory Services Inc. now owns 15,544 shares of the company’s stock valued at $1,282,000 after buying an additional 6,186 shares during the last quarter. Cetera Investment Advisers lifted its position in Kellanova by 2.3% during the 1st quarter. Cetera Investment Advisers now owns 84,926 shares of the company’s stock worth $7,006,000 after acquiring an additional 1,928 shares during the period. Mackenzie Financial Corp grew its stake in shares of Kellanova by 12.6% in the 1st quarter. Mackenzie Financial Corp now owns 26,290 shares of the company’s stock valued at $2,169,000 after purchasing an additional 2,947 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Kellanova by 115.0% in the first quarter. Federated Hermes Inc. now owns 1,993 shares of the company’s stock valued at $164,000 after purchasing an additional 1,066 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Kellanova during the first quarter worth approximately $1,117,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Performance

Shares of K stock opened at $83.81 on Friday. The stock has a fifty day moving average price of $82.49 and a 200 day moving average price of $80.98. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68. The stock has a market cap of $29.16 billion, a PE ratio of 22.00, a P/E/G ratio of 5.16 and a beta of 0.23. Kellanova has a 1 year low of $76.48 and a 1 year high of $83.65.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter last year, the business posted $0.91 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. Sell-side analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.58 per share. The ex-dividend date is Monday, December 1st. This represents a $2.32 dividend on an annualized basis and a yield of 2.8%. Kellanova’s payout ratio is presently 63.74%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Weiss Ratings lowered shares of Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Wall Street Zen raised shares of Kellanova from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Finally, JPMorgan Chase & Co. started coverage on shares of Kellanova in a report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price target for the company. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $83.50.

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.