First Trust Advisors LP Has $38.80 Million Holdings in Kellanova $K

First Trust Advisors LP lowered its position in Kellanova (NYSE:K) by 36.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 487,843 shares of the company’s stock after selling 284,946 shares during the period. First Trust Advisors LP owned 0.14% of Kellanova worth $38,798,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of K. Citigroup Inc. lifted its holdings in Kellanova by 101.6% in the first quarter. Citigroup Inc. now owns 457,138 shares of the company’s stock valued at $37,709,000 after buying an additional 230,397 shares during the period. Townsquare Capital LLC raised its position in shares of Kellanova by 27.7% in the 1st quarter. Townsquare Capital LLC now owns 7,244 shares of the company’s stock worth $598,000 after acquiring an additional 1,571 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Kellanova by 17.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,433 shares of the company’s stock valued at $448,000 after purchasing an additional 793 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Kellanova by 66.3% during the 1st quarter. JPMorgan Chase & Co. now owns 2,413,007 shares of the company’s stock valued at $199,049,000 after purchasing an additional 962,172 shares in the last quarter. Finally, Entropy Technologies LP grew its stake in Kellanova by 22.6% during the first quarter. Entropy Technologies LP now owns 8,037 shares of the company’s stock worth $663,000 after purchasing an additional 1,480 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Kellanova Price Performance

Shares of NYSE K opened at $83.47 on Wednesday. The stock has a market cap of $29.04 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 11.61 and a beta of 0.23. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.44 and a current ratio of 0.68. Kellanova has a fifty-two week low of $76.48 and a fifty-two week high of $83.65. The firm’s 50-day simple moving average is $83.14 and its 200 day simple moving average is $81.02.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. Kellanova had a return on equity of 31.73% and a net margin of 10.08%.The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.25 billion. During the same period in the previous year, the company posted $0.91 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. As a group, research analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

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

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.