Biechele Royce Advisors Has $2.47 Million Stock Holdings in Kellanova (NYSE:K)

Biechele Royce Advisors lessened its stake in shares of Kellanova (NYSE:K) by 2.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,073 shares of the company’s stock after selling 1,170 shares during the period. Kellanova accounts for 0.8% of Biechele Royce Advisors’ portfolio, making the stock its 23rd largest holding. Biechele Royce Advisors’ holdings in Kellanova were worth $2,468,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Zhang Financial LLC boosted its position in shares of Kellanova by 0.8% in the first quarter. Zhang Financial LLC now owns 21,318 shares of the company’s stock valued at $1,221,000 after acquiring an additional 176 shares during the period. Naples Global Advisors LLC lifted its position in Kellanova by 1.7% in the fourth quarter. Naples Global Advisors LLC now owns 11,696 shares of the company’s stock worth $654,000 after purchasing an additional 200 shares during the period. Bfsg LLC lifted its position in Kellanova by 64.5% in the first quarter. Bfsg LLC now owns 510 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares during the period. Financial Advisors Network Inc. lifted its position in Kellanova by 4.2% in the fourth quarter. Financial Advisors Network Inc. now owns 5,040 shares of the company’s stock worth $282,000 after purchasing an additional 204 shares during the period. Finally, Blue Trust Inc. raised its stake in Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after acquiring an additional 206 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Barclays increased their price objective on Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Monday, May 6th. DA Davidson boosted their target price on shares of Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. boosted their target price on shares of Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. TD Cowen boosted their target price on shares of Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Finally, Bank of America dropped their target price on shares of Kellanova from $64.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $61.85.

Kellanova Stock Down 0.1 %

K traded down $0.05 during trading hours on Thursday, hitting $56.84. 1,859,100 shares of the company’s stock were exchanged, compared to its average volume of 2,864,963. Kellanova has a 1-year low of $47.63 and a 1-year high of $68.23. The stock’s 50-day moving average is $59.48 and its two-hundred day moving average is $56.99. The stock has a market cap of $19.43 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 1.99 and a beta of 0.34. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the firm posted $1.10 earnings per share. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. Sell-side analysts predict that Kellanova will post 3.62 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend was Monday, June 3rd. Kellanova’s payout ratio is presently 83.90%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $57.76, for a total value of $4,493,728.00. Following the transaction, the insider now directly owns 51,920,038 shares of the company’s stock, valued at $2,998,901,394.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the transaction, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $57.76, for a total transaction of $4,493,728.00. Following the transaction, the insider now directly owns 51,920,038 shares in the company, valued at $2,998,901,394.88. The disclosure for this sale can be found here. Insiders have sold 865,600 shares of company stock valued at $50,838,732 over the last ninety days. 1.80% of the stock is currently owned by company insiders.

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.