Valeo Financial Advisors LLC Has $1.03 Million Stake in Kellanova $K

Valeo Financial Advisors LLC decreased its position in Kellanova (NYSE:K) by 5.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 12,947 shares of the company’s stock after selling 775 shares during the period. Valeo Financial Advisors LLC’s holdings in Kellanova were worth $1,030,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Pinnacle Associates Ltd. boosted its position in shares of Kellanova by 2.0% in the first quarter. Pinnacle Associates Ltd. now owns 6,373 shares of the company’s stock worth $526,000 after buying an additional 123 shares during the period. Independent Advisor Alliance boosted its position in Kellanova by 1.8% during the 1st 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 boosted its position in Kellanova by 1.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 10,423 shares of the company’s stock worth $860,000 after acquiring an additional 132 shares during the period. Cigna Investments Inc. New boosted its position in Kellanova by 5.3% during the 2nd quarter. Cigna Investments Inc. New now owns 2,797 shares of the company’s stock worth $222,000 after acquiring an additional 141 shares during the period. Finally, Legacy Advisors LLC boosted its holdings in shares of Kellanova by 7.1% during the first quarter. Legacy Advisors LLC now owns 2,687 shares of the company’s stock worth $222,000 after purchasing an additional 179 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on K shares. Wall Street Zen cut shares of Kellanova from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Kellanova in a research note on Saturday, September 27th. Finally, JPMorgan Chase & Co. started coverage on Kellanova in a research report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price objective for the company. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $83.38.

Kellanova Stock Up 0.3%

K stock opened at $82.89 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03. Kellanova has a 1 year low of $76.48 and a 1 year high of $83.22. The company has a fifty day simple moving average of $79.77 and a 200 day simple moving average of $80.78. The firm has a market cap of $28.82 billion, a PE ratio of 21.75, a PEG ratio of 5.15 and a beta of 0.24.

Kellanova (NYSE:K) last released its quarterly earnings data 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). Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same period in the previous year, the firm posted $1.01 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Sell-side analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a $0.58 dividend. This is an increase from Kellanova’s previous quarterly dividend of $0.57. The ex-dividend date was Tuesday, September 2nd. This represents a $2.32 annualized dividend and a yield of 2.8%. Kellanova’s dividend payout ratio is presently 60.89%.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the business’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total value of $9,116,350.45. Following the completion of the sale, the insider directly owned 45,097,438 shares in the company, valued at approximately $3,587,501,192.90. The trade was a 0.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 687,514 shares of company stock valued at $54,869,342 in the last ninety days. 1.80% of the stock is currently owned by insiders.

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.