Financial Counselors Inc. Invests $522,000 in Kellanova (NYSE:K)

Financial Counselors Inc. purchased a new stake in Kellanova (NYSE:K - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,330 shares of the company's stock, valued at approximately $522,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of K. Norges Bank acquired a new stake in Kellanova during the fourth quarter valued at approximately $285,126,000. Franklin Resources Inc. raised its stake in Kellanova by 869.5% during the fourth quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company's stock valued at $208,826,000 after buying an additional 2,313,047 shares in the last quarter. FIL Ltd raised its stake in Kellanova by 182.3% during the fourth quarter. FIL Ltd now owns 2,388,000 shares of the company's stock valued at $193,356,000 after buying an additional 1,542,000 shares in the last quarter. Tudor Investment Corp ET AL raised its stake in Kellanova by 136.0% during the fourth quarter. Tudor Investment Corp ET AL now owns 1,745,788 shares of the company's stock valued at $141,356,000 after buying an additional 1,006,100 shares in the last quarter. Finally, TIG Advisors LLC raised its position in shares of Kellanova by 76.5% during the 4th quarter. TIG Advisors LLC now owns 1,878,275 shares of the company's stock worth $152,084,000 after purchasing an additional 813,901 shares during the period. Institutional investors and hedge funds own 83.87% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on K. Wall Street Zen cut Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 price target on the stock in a research report on Thursday, May 29th. Finally, Royal Bank Of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Kellanova has an average rating of "Hold" and an average price target of $79.75.

Kellanova Stock Performance

K traded down $0.24 during trading hours on Friday, hitting $79.43. The company's stock had a trading volume of 2,467,948 shares, compared to its average volume of 3,016,556. Kellanova has a fifty-two week low of $55.96 and a fifty-two week high of $83.22. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $27.56 billion, a PE ratio of 20.06, a PEG ratio of 4.23 and a beta of 0.28. The company has a 50-day simple moving average of $80.98 and a 200 day simple moving average of $81.71.

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 the consensus estimate of $1.01 by ($0.11). Kellanova had a net margin of 10.93% and a return on equity of 34.80%. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the business earned $1.01 earnings per share. The firm's revenue was down 3.7% compared to the same quarter last year. As a group, sell-side analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.87%. Kellanova's payout ratio is currently 57.58%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $79.37, for a total transaction of $9,094,452.71. Following the completion of the transaction, the insider directly owned 46,014,118 shares of the company's stock, valued at approximately $3,652,140,545.66. This trade represents a 0.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 1,374,996 shares of company stock worth $111,795,196. Company insiders own 1.80% of the company's stock.

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.