Exchange Traded Concepts LLC Has $243,000 Holdings in Kellanova (NYSE:K)

Exchange Traded Concepts LLC cut its holdings in Kellanova (NYSE:K - Free Report) by 76.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,946 shares of the company's stock after selling 9,499 shares during the period. Exchange Traded Concepts LLC's holdings in Kellanova were worth $243,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Independent Advisor Alliance grew its stake in shares of Kellanova by 16.5% in the fourth quarter. Independent Advisor Alliance now owns 7,203 shares of the company's stock valued at $583,000 after acquiring an additional 1,019 shares in the last quarter. Aviva PLC grew its stake in shares of Kellanova by 2.6% in the fourth quarter. Aviva PLC now owns 542,709 shares of the company's stock valued at $43,943,000 after acquiring an additional 13,531 shares in the last quarter. Alpine Associates Management Inc. lifted its position in Kellanova by 93.5% during the fourth quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company's stock worth $49,622,000 after purchasing an additional 296,150 shares during the period. Decagon Asset Management LLP bought a new stake in Kellanova during the fourth quarter worth about $10,125,000. Finally, Pictet Asset Management Holding SA lifted its position in Kellanova by 12.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 164,657 shares of the company's stock worth $13,332,000 after purchasing an additional 18,045 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

K has been the subject of several recent analyst reports. Royal Bank Of Canada cut shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Citigroup raised shares of Kellanova to a "neutral" rating and set a $83.50 price objective for the company in a research report on Thursday, May 29th. Finally, Wall Street Zen cut shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Fourteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Kellanova presently has a consensus rating of "Hold" and a consensus price target of $79.75.

Kellanova Stock Down 0.4%

K stock opened at $78.65 on Monday. The stock has a market capitalization of $27.29 billion, a P/E ratio of 19.86, a price-to-earnings-growth ratio of 4.12 and a beta of 0.30. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.25. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. The firm has a 50-day moving average price of $81.95 and a 200-day moving average price of $81.86.

Kellanova (NYSE:K - Get Free Report) last posted its 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 company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 34.80% and a net margin of 10.93%. The firm's revenue was down 3.7% compared to the same quarter last year. During the same period last year, the company posted $1.01 EPS. As a group, equities research analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.90%. Kellanova's dividend payout ratio is currently 57.58%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $82.03, for a total value of $9,399,243.49. Following the completion of the transaction, the insider now owns 47,274,531 shares of the company's stock, valued at $3,877,929,777.93. This represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold 1,260,413 shares of company stock valued at $103,430,637 over the last quarter. 1.80% of the stock is owned by company 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.

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