Kovack Advisors Inc. Acquires 975 Shares of Kellanova (NYSE:K)

Kovack Advisors Inc. raised its holdings in shares of Kellanova (NYSE:K) by 18.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,325 shares of the company’s stock after buying an additional 975 shares during the period. Kovack Advisors Inc.’s holdings in Kellanova were worth $511,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of K. Swedbank AB boosted its position in Kellanova by 20.5% during the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock valued at $22,076,000 after buying an additional 46,450 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of Kellanova by 4.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock worth $14,705,000 after purchasing an additional 10,676 shares during the last quarter. SG Americas Securities LLC raised its position in Kellanova by 498.7% during the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock valued at $15,049,000 after purchasing an additional 217,320 shares during the last quarter. M&G Plc bought a new stake in shares of Kellanova in the 1st quarter worth approximately $9,346,000. Finally, Atria Investments Inc purchased a new position in shares of Kellanova during the first quarter valued at approximately $1,003,000. 83.87% of the stock is owned by institutional investors.

Kellanova Price Performance

NYSE K opened at $80.86 on Friday. The stock has a market capitalization of $27.87 billion, a price-to-earnings ratio of 27.79, a PEG ratio of 2.60 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The business’s fifty day moving average price is $80.69 and its 200-day moving average price is $69.67. Kellanova has a 1-year low of $51.02 and a 1-year high of $81.34.

Kellanova (NYSE:K) last released its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the firm posted $1.03 EPS. The firm’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities analysts predict that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Monday, December 2nd. Kellanova’s payout ratio is presently 78.35%.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the sale, the insider now directly owns 50,482,855 shares in the company, valued at $4,051,249,113.75. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 1,072,264 shares of company stock valued at $86,452,375 in the last quarter. 1.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on K shares. Wells Fargo & Company lifted their price target on shares of Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price target on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $80.00 to $83.50 in a report on Monday, August 26th. Piper Sandler upped their target price on Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Finally, BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a research note on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $76.35.

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.