Mount Yale Investment Advisors LLC Grows Stake in Kellanova (NYSE:K)

Mount Yale Investment Advisors LLC raised its stake in shares of Kellanova (NYSE:K) by 42.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,517 shares of the company’s stock after purchasing an additional 2,257 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Kellanova were worth $431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Raymond James & Associates raised its position in Kellanova by 11.9% in the 4th quarter. Raymond James & Associates now owns 400,371 shares of the company’s stock worth $22,385,000 after purchasing an additional 42,656 shares during the period. Blue Trust Inc. grew its position in Kellanova by 55.1% in the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after acquiring an additional 206 shares during the last quarter. Fifth Third Bancorp increased its stake in Kellanova by 22.3% in the fourth quarter. Fifth Third Bancorp now owns 17,708 shares of the company’s stock worth $990,000 after purchasing an additional 3,224 shares during the period. Retirement Guys Formula LLC lifted its position in shares of Kellanova by 11.2% during the fourth quarter. Retirement Guys Formula LLC now owns 8,564 shares of the company’s stock worth $479,000 after purchasing an additional 863 shares during the last quarter. Finally, Lee Financial Group Hawaii Inc. boosted its stake in shares of Kellanova by 17.0% during the fourth quarter. Lee Financial Group Hawaii Inc. now owns 9,001 shares of the company’s stock valued at $503,000 after purchasing an additional 1,311 shares during the period. 83.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on K shares. JPMorgan Chase & Co. raised their price target 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 raised their target price on shares of Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Barclays lowered their price target on Kellanova from $64.00 to $61.00 and set an “equal weight” rating for the company in a report on Friday, July 19th. DA Davidson raised their price objective on Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Finally, Bank of America lowered their target price on Kellanova from $64.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Thirteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $61.50.

Kellanova Stock Down 0.6 %

Shares of Kellanova stock traded down $0.34 on Monday, reaching $57.13. The stock had a trading volume of 1,870,711 shares, compared to its average volume of 2,772,211. Kellanova has a 1 year low of $47.63 and a 1 year high of $67.79. The company has a 50 day moving average price of $58.46 and a 200 day moving average price of $57.10. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $19.53 billion, a P/E ratio of 21.36, a P/E/G ratio of 2.09 and a beta of 0.35.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.10 earnings per share. As a group, equities research analysts forecast that Kellanova will post 3.61 EPS for the current year.

Kellanova Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.57 per share. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.99%. Kellanova’s payout ratio is presently 83.90%.

Insider Activity

In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $60.05, for a total value of $588,490.00. Following the completion of the transaction, the senior vice president now owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the transaction, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $62.31, for a total transaction of $4,847,718.00. Following the completion of the sale, the insider now directly owns 51,686,638 shares in the company, valued at $3,220,594,413.78. The disclosure for this sale can be found here. Insiders have sold a total of 787,800 shares of company stock worth $46,384,682 over the last 90 days. 1.80% of the stock is currently owned by corporate 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.