Cigna Investments Inc. New Has $222,000 Stock Holdings in Kellanova $K

Cigna Investments Inc. New raised its stake in Kellanova (NYSE:K) by 5.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,797 shares of the company’s stock after purchasing an additional 141 shares during the period. Cigna Investments Inc. New’s holdings in Kellanova were worth $222,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Pinnacle Associates Ltd. grew its stake in Kellanova by 2.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 6,373 shares of the company’s stock valued at $526,000 after buying an additional 123 shares during the last quarter. Independent Advisor Alliance boosted its holdings in shares of Kellanova by 1.8% during the first quarter. Independent Advisor Alliance now owns 7,334 shares of the company’s stock worth $605,000 after acquiring an additional 131 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Kellanova by 1.3% in the first quarter. Sequoia Financial Advisors LLC now owns 10,423 shares of the company’s stock valued at $860,000 after purchasing an additional 132 shares during the last quarter. Legacy Advisors LLC grew its position in shares of Kellanova by 7.1% in the first quarter. Legacy Advisors LLC now owns 2,687 shares of the company’s stock valued at $222,000 after purchasing an additional 179 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Kellanova by 6.0% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,288 shares of the company’s stock worth $271,000 after purchasing an additional 185 shares during the period. 83.87% of the stock is owned by institutional investors.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total transaction 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. This represents a 0.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 916,680 shares of company stock valued at $73,093,769. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on K shares. Wall Street Zen downgraded Kellanova from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Citigroup raised Kellanova to a “neutral” rating and set a $83.50 target price for the company in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. began coverage on shares of Kellanova in a research note on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 price target on the stock. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $83.38.

Kellanova Price Performance

Shares of NYSE K opened at $77.06 on Friday. The business has a fifty day moving average price of $79.45 and a two-hundred day moving average price of $80.81. The stock has a market capitalization of $26.79 billion, a PE ratio of 20.23, a P/E/G ratio of 4.79 and a beta of 0.27. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45. Kellanova has a fifty-two week low of $76.48 and a fifty-two week high of $83.22.

Kellanova (NYSE:K) last released its 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 for the quarter, compared to analyst estimates of $3.19 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the company posted $1.01 earnings per share. As a group, equities analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The company 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 3.0%. The ex-dividend date was Tuesday, September 2nd. This is a boost from Kellanova’s previous quarterly dividend of $0.57. Kellanova’s dividend payout ratio is presently 60.89%.

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.