Financial Counselors Inc. Invests $522,000 in Kellanova (NYSE:K)

Financial Counselors Inc. acquired a new position in shares of Kellanova (NYSE:K) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,330 shares of the company’s stock, valued at approximately $522,000.

Several other large investors have also modified their holdings of K. Vanguard Group Inc. boosted its holdings in Kellanova by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company’s stock valued at $2,626,322,000 after purchasing an additional 281,137 shares during the period. Keybank National Association OH boosted its holdings in Kellanova by 0.7% in the 1st 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 period. Geode Capital Management LLC boosted its holdings in Kellanova by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company’s stock valued at $556,014,000 after purchasing an additional 158,560 shares during the period. Pentwater Capital Management LP boosted its holdings in Kellanova by 8.5% in the 4th quarter. Pentwater Capital Management LP now owns 5,755,000 shares of the company’s stock valued at $465,982,000 after purchasing an additional 450,700 shares during the period. Finally, Invesco Ltd. boosted its holdings in Kellanova by 2.7% in the 4th quarter. Invesco Ltd. now owns 4,168,070 shares of the company’s stock valued at $337,489,000 after purchasing an additional 111,396 shares during the period. 83.87% of the stock is owned by institutional investors.

Kellanova Trading Down 0.2%

Shares of Kellanova stock opened at $79.23 on Thursday. The stock has a market capitalization of $27.49 billion, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 4.21 and a beta of 0.28. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.25. The company has a 50-day simple moving average of $81.11 and a 200 day simple moving average of $81.73. Kellanova has a 12-month low of $55.96 and a 12-month high of $83.22.

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

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.88%. Kellanova’s payout ratio is presently 57.58%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Royal Bank Of Canada downgraded shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Citigroup raised shares of Kellanova to a “neutral” rating and set a $83.50 price objective for the company in a report on Thursday, May 29th. Finally, Wall Street Zen downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Fourteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $79.75.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $79.68, for a total value of $9,129,973.44. Following the completion of the sale, the insider 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 1,374,996 shares of company stock valued at $111,795,196. Company insiders own 1.80% of the company’s stock.

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.