Soros Fund Management LLC Trims Position in Kellanova $K

Soros Fund Management LLC decreased its holdings in Kellanova (NYSE:K) by 9.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 280,083 shares of the company’s stock after selling 29,036 shares during the quarter. Soros Fund Management LLC owned about 0.08% of Kellanova worth $22,275,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of K. Financial Network Wealth Advisors LLC bought a new position in Kellanova in the first quarter worth about $25,000. Trust Co. of Toledo NA OH purchased a new position in shares of Kellanova during the 2nd quarter worth approximately $45,000. Dagco Inc. bought a new position in shares of Kellanova in the 1st quarter worth approximately $49,000. Capital Advisors Ltd. LLC lifted its stake in shares of Kellanova by 32.7% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 718 shares of the company’s stock valued at $57,000 after purchasing an additional 177 shares during the period. Finally, CoreFirst Bank & Trust bought a new stake in shares of Kellanova during the second quarter valued at approximately $59,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Weiss Ratings downgraded Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. JPMorgan Chase & Co. started coverage on shares of Kellanova in a research note on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 price target for the company. Finally, Wall Street Zen upgraded shares of Kellanova from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Kellanova presently has an average rating of “Hold” and an average price target of $83.50.

Kellanova Stock Up 0.0%

Shares of Kellanova stock opened at $83.48 on Friday. The company has a 50-day simple moving average of $83.18 and a two-hundred day simple moving average of $81.05. The stock has a market capitalization of $29.05 billion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 11.61 and a beta of 0.23. Kellanova has a 52-week low of $76.48 and a 52-week high of $83.65. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.44 and a current ratio of 0.68.

Kellanova (NYSE:K) last announced its quarterly earnings results 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. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.25 billion. Kellanova had a net margin of 10.08% and a return on equity of 31.73%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 earnings per share. On average, analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.58 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.32 annualized dividend and a yield of 2.8%. Kellanova’s dividend payout ratio (DPR) is currently 63.74%.

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.