Xponance Inc. Raises Position in Kellanova (NYSE:K)

Xponance Inc. boosted its stake in Kellanova (NYSE:K) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,158 shares of the company’s stock after buying an additional 722 shares during the period. Xponance Inc.’s holdings in Kellanova were worth $3,230,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Independent Advisor Alliance lifted its holdings in shares of Kellanova by 16.5% during the fourth quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock valued at $583,000 after purchasing an additional 1,019 shares during the last quarter. Financial Counselors Inc. purchased a new position in shares of Kellanova during the first quarter valued at approximately $522,000. Aviva PLC lifted its holdings in shares of Kellanova by 2.6% during the fourth quarter. Aviva PLC now owns 542,709 shares of the company’s stock valued at $43,943,000 after purchasing an additional 13,531 shares during the last quarter. IFM Investors Pty Ltd lifted its holdings in shares of Kellanova by 11.6% during the first quarter. IFM Investors Pty Ltd now owns 57,241 shares of the company’s stock valued at $4,620,000 after purchasing an additional 5,957 shares during the last quarter. Finally, Retirement Guys Formula LLC purchased a new position in shares of Kellanova during the first quarter valued at approximately $934,000. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

K has been the subject of several analyst reports. Wall Street Zen downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Citigroup raised shares of Kellanova to a “neutral” rating and set a $83.50 price target for the company in a research report on Thursday, May 29th. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Kellanova has an average rating of “Hold” and an average target price of $79.75.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $79.68, for a total transaction of $9,129,973.44. Following the transaction, the insider directly owned 45,899,535 shares in the company, valued at approximately $3,657,274,948.80. This trade represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 1,260,413 shares of company stock worth $102,352,411 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Kellanova Stock Down 0.3%

K opened at $79.43 on Monday. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.25. Kellanova has a 52 week low of $55.96 and a 52 week high of $83.22. The company has a market capitalization of $27.56 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 4.21 and a beta of 0.28. The firm has a 50-day simple moving average of $80.98 and a two-hundred day simple moving average of $81.72.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Kellanova had a return on equity of 34.80% and a net margin of 10.93%. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the company earned $1.01 earnings per share. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. Analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.87%. Kellanova’s dividend payout ratio (DPR) is presently 57.58%.

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.