FNY Investment Advisers LLC Purchases 22,127 Shares of Kellanova $K

FNY Investment Advisers LLC raised its position in Kellanova (NYSE:K) by 71.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 52,950 shares of the company’s stock after purchasing an additional 22,127 shares during the period. Kellanova comprises approximately 1.8% of FNY Investment Advisers LLC’s portfolio, making the stock its 6th biggest holding. FNY Investment Advisers LLC’s holdings in Kellanova were worth $4,211,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Kellanova by 0.8% in the first quarter. Vanguard Group Inc. now owns 32,695,348 shares of the company’s stock valued at $2,697,039,000 after purchasing an additional 259,604 shares during the last quarter. Keybank National Association OH grew its holdings in Kellanova by 0.7% in the first quarter. Keybank National Association OH now owns 19,718,498 shares of the company’s stock valued at $1,626,579,000 after purchasing an additional 128,439 shares during the last quarter. Pentwater Capital Management LP grew its holdings in Kellanova by 39.0% in the first quarter. Pentwater Capital Management LP now owns 8,000,000 shares of the company’s stock valued at $659,920,000 after purchasing an additional 2,245,000 shares during the last quarter. Northern Trust Corp grew its holdings in Kellanova by 3.0% in the first quarter. Northern Trust Corp now owns 4,015,549 shares of the company’s stock valued at $331,243,000 after purchasing an additional 117,650 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Kellanova by 11.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,953,288 shares of the company’s stock valued at $243,617,000 after purchasing an additional 292,063 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on K shares. JPMorgan Chase & Co. started coverage on Kellanova in a research note on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price objective on the stock. Wall Street Zen lowered Kellanova from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Finally, Weiss Ratings raised Kellanova from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $83.38.

Kellanova Trading Down 0.1%

NYSE K opened at $82.99 on Wednesday. Kellanova has a 12 month low of $76.48 and a 12 month high of $83.22. The company has a 50-day moving average of $80.36 and a 200-day moving average of $80.81. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45. The company has a market cap of $28.85 billion, a P/E ratio of 21.78, a P/E/G ratio of 5.16 and a beta of 0.24.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period in the prior year, the company earned $1.01 EPS. The company’s revenue was up .3% compared to the same quarter last year. As a group, equities analysts predict that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Increases Dividend

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

Insider Activity at Kellanova

In other 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 stock was sold at an average price of $79.55, for a total value of $9,116,350.45. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 458,348 shares of company stock valued at $36,597,937. Company insiders own 1.80% of the company’s stock.

About Kellanova

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.