Lifeworks Advisors LLC Takes $432,000 Position in Kellanova $K

Lifeworks Advisors LLC bought a new stake in shares of Kellanova (NYSE:K) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,436 shares of the company’s stock, valued at approximately $432,000.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Kellanova by 0.8% during the first quarter. Vanguard Group Inc. now owns 32,695,348 shares of the company’s stock worth $2,697,039,000 after acquiring an additional 259,604 shares in the last quarter. Pentwater Capital Management LP boosted its stake in Kellanova by 39.0% during the first quarter. Pentwater Capital Management LP now owns 8,000,000 shares of the company’s stock worth $659,920,000 after acquiring an additional 2,245,000 shares in the last quarter. Northern Trust Corp boosted its stake in Kellanova by 3.0% during the first quarter. Northern Trust Corp now owns 4,015,549 shares of the company’s stock worth $331,243,000 after acquiring an additional 117,650 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Kellanova by 11.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,953,288 shares of the company’s stock worth $243,617,000 after acquiring an additional 292,063 shares in the last quarter. Finally, Amundi boosted its stake in Kellanova by 12.0% during the first quarter. Amundi now owns 2,949,498 shares of the company’s stock worth $243,481,000 after acquiring an additional 316,567 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Kellanova Trading Down 0.1%

Shares of NYSE K opened at $83.08 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68. The firm’s 50 day moving average price is $80.84 and its 200-day moving average price is $80.86. Kellanova has a 52-week low of $76.48 and a 52-week high of $83.22. The company has a market cap of $28.88 billion, a PE ratio of 21.80, a P/E/G ratio of 5.16 and a beta of 0.24.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.06. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same period in the previous year, the company earned $0.91 earnings per share. The firm’s quarterly revenue was up .8% on a year-over-year basis. On average, equities research analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. Kellanova’s payout ratio is presently 63.74%.

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 that occurred on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the completion of the transaction, the insider directly owned 45,097,438 shares of the company’s stock, valued at $3,587,501,192.90. The trade was a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 343,765 shares of company stock worth $27,455,360 over the last three months. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on K shares. Wall Street Zen raised shares of Kellanova from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings downgraded shares of Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Finally, JPMorgan Chase & Co. began coverage on shares of Kellanova in a research note on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 target price on the stock. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Kellanova has an average rating of “Hold” and an average price target of $83.50.

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.