Quent Capital LLC Decreases Position in Kellanova (NYSE:K)

Quent Capital LLC lowered its position in Kellanova (NYSE:K) by 34.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 693 shares of the company’s stock after selling 371 shares during the quarter. Quent Capital LLC’s holdings in Kellanova were worth $40,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Intech Investment Management LLC grew its holdings in Kellanova by 10.1% during the 4th quarter. Intech Investment Management LLC now owns 263,880 shares of the company’s stock valued at $14,754,000 after buying an additional 24,124 shares during the last quarter. Jump Financial LLC purchased a new position in Kellanova in the 4th quarter valued at about $8,178,000. International Assets Investment Management LLC grew its holdings in shares of Kellanova by 133.4% during the fourth quarter. International Assets Investment Management LLC now owns 60,885 shares of the company’s stock worth $3,404,000 after buying an additional 34,800 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Kellanova by 4.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock valued at $14,705,000 after buying an additional 10,676 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Kellanova during the fourth quarter valued at approximately $889,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Trading Up 1.3 %

Shares of Kellanova stock traded up $0.96 during trading hours on Wednesday, hitting $74.31. The company’s stock had a trading volume of 1,433,883 shares, compared to its average volume of 2,920,318. The business has a fifty day moving average of $58.77 and a 200 day moving average of $57.53. Kellanova has a 1-year low of $47.63 and a 1-year high of $75.40. The company has a quick ratio of 0.41, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $25.41 billion, a PE ratio of 27.46, a P/E/G ratio of 2.22 and a beta of 0.34.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the company posted $1.25 earnings per share. The firm’s revenue was down 4.7% compared to the same quarter last year. As a group, equities analysts forecast that Kellanova will post 3.68 EPS for the current year.

Kellanova Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Tuesday, September 3rd. This is a boost from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s dividend payout ratio is currently 85.39%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Bank of America upgraded Kellanova from a “neutral” rating to a “buy” rating and boosted their price target for the company from $62.00 to $70.00 in a report on Friday, August 2nd. Wells Fargo & Company upped their target price on Kellanova from $62.00 to $76.00 and gave the company an “equal weight” rating in a research note on Tuesday. JPMorgan Chase & Co. increased their target price on Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Piper Sandler lifted their price target on Kellanova from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada raised shares of Kellanova from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $62.00 to $76.00 in a research note on Monday. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $66.93.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $62.01, for a total transaction of $4,824,378.00. Following the completion of the sale, the insider now directly owns 51,608,838 shares of the company’s stock, valued at approximately $3,200,264,044.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 778,000 shares of company stock valued at $45,509,110 over the last 90 days. 1.80% of the stock is owned by corporate insiders.

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.