CW Advisors LLC Invests $878,000 in Kellanova $K

Key Points

• CW Advisors LLC invested approximately $878,000 in Kellanova by acquiring 10,639 shares during the first quarter.
• Kellanova recently reported $0.94 earnings per share, missing expectations of $0.99, while also experiencing a slight increase in revenue compared to last year.
• The company announced a quarterly dividend increase to $0.58, up from $0.57, with a dividend yield of 2.9% and a payout ratio of 59.84%.

CW Advisors LLC acquired a new stake in Kellanova (NYSE:K - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 10,639 shares of the company's stock, valued at approximately $878,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in K. Carmignac Gestion increased its position in Kellanova by 35.1% in the 1st quarter. Carmignac Gestion now owns 91,934 shares of the company's stock valued at $7,584,000 after acquiring an additional 23,865 shares during the period. Credit Agricole S A increased its position in Kellanova by 1.1% in the 1st quarter. Credit Agricole S A now owns 101,986 shares of the company's stock valued at $8,413,000 after acquiring an additional 1,137 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. increased its position in Kellanova by 3.2% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 113,229 shares of the company's stock valued at $9,340,000 after acquiring an additional 3,473 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its position in Kellanova by 429.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 55,978 shares of the company's stock valued at $4,618,000 after acquiring an additional 45,399 shares during the period. Finally, Hsbc Holdings PLC increased its position in Kellanova by 7.7% in the 1st quarter. Hsbc Holdings PLC now owns 1,001,528 shares of the company's stock valued at $82,578,000 after acquiring an additional 71,577 shares during the period. Institutional investors own 83.87% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on K. JPMorgan Chase & Co. began coverage on shares of Kellanova in a research report on Wednesday, August 20th. They issued a "neutral" rating and a $83.50 price target for the company. Wall Street Zen cut shares of Kellanova from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Citigroup upgraded shares of Kellanova to a "neutral" rating and set a $83.50 price target for the company in a research report on Thursday, May 29th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $83.38.

Kellanova Price Performance

K stock traded up $0.01 during midday trading on Friday, reaching $79.48. The company had a trading volume of 3,564,768 shares, compared to its average volume of 2,009,401. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45. Kellanova has a 1 year low of $77.70 and a 1 year high of $83.22. The company has a market capitalization of $27.63 billion, a P/E ratio of 20.86, a P/E/G ratio of 4.95 and a beta of 0.27. The firm has a 50-day moving average price of $79.73 and a 200-day moving average price of $81.31.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $0.99 by ($0.05). Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The company had revenue of $3.20 billion during the quarter, compared to analysts' expectations of $3.19 billion. During the same period in the prior year, the firm earned $1.01 EPS. Kellanova's quarterly revenue was up .3% on a year-over-year basis. On average, research analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a $0.58 dividend. This is a boost from Kellanova's previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 2.9%. Kellanova's payout ratio is 60.89%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the firm's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total value of $9,116,350.45. Following the sale, the insider owned 45,097,438 shares of the company's stock, valued at $3,587,501,192.90. This trade represents a 0.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 1,260,429 shares of company stock valued at $100,650,980. 1.80% of the stock is owned by company insiders.

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.