Cantor Fitzgerald Investment Advisors L.P. Has $13.92 Million Stock Position in Kellanova (NYSE:K)

Cantor Fitzgerald Investment Advisors L.P. lessened its holdings in shares of Kellanova (NYSE:K - Free Report) by 24.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 168,739 shares of the company's stock after selling 55,286 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P.'s holdings in Kellanova were worth $13,919,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Kellanova by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company's stock worth $2,626,322,000 after purchasing an additional 281,137 shares during the period. Geode Capital Management LLC lifted its stake in shares of Kellanova by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company's stock worth $556,014,000 after buying an additional 158,560 shares during the last quarter. Pentwater Capital Management LP boosted its holdings in shares of Kellanova by 8.5% during the 4th quarter. Pentwater Capital Management LP now owns 5,755,000 shares of the company's stock worth $465,982,000 after buying an additional 450,700 shares during the period. Invesco Ltd. grew its stake in Kellanova by 2.7% in the 4th quarter. Invesco Ltd. now owns 4,168,070 shares of the company's stock valued at $337,489,000 after buying an additional 111,396 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Kellanova by 15.7% in the 4th quarter. Northern Trust Corp now owns 3,897,899 shares of the company's stock valued at $315,613,000 after buying an additional 530,132 shares during the last quarter. Institutional investors own 83.87% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Citigroup raised Kellanova to a "neutral" rating and set a $83.50 target price on the stock in a research report on Thursday, May 29th. Royal Bank Of Canada lowered Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Finally, Wall Street Zen lowered shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Fourteen analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $79.75.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $80.19, for a total transaction of $9,188,410.77. Following the sale, the insider now directly owns 46,243,284 shares in the company, valued at approximately $3,708,248,943.96. The trade was a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 1,260,413 shares of company stock valued at $103,430,637. 1.80% of the stock is currently owned by insiders.

Kellanova Stock Down 1.6%

Shares of K opened at $78.91 on Friday. The firm has a 50 day simple moving average of $82.02 and a two-hundred day simple moving average of $81.86. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.80 and a quick ratio of 0.52. Kellanova has a one year low of $55.96 and a one year high of $83.22. The company has a market cap of $27.38 billion, a P/E ratio of 19.93, a P/E/G ratio of 4.13 and a beta of 0.30.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 34.80% and a net margin of 10.93%. Kellanova's quarterly revenue was down 3.7% on a year-over-year basis. During the same period last year, the firm posted $1.01 EPS. Research analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.89%. Kellanova's dividend payout ratio is currently 57.58%.

Kellanova 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.

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