Kellanova $K Stake Increased by Aptus Capital Advisors LLC

Key Points

• Aptus Capital Advisors LLC increased its stake in Kellanova by 92.1% in Q1, acquiring an additional 4,953 shares, bringing its total holdings to 10,332 shares valued at approximately $852,000.
• Major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares on August 21st, totaling over $9 million, which reflects a slight decrease in their ownership position.
• Kellanova recently declared an increased quarterly dividend of $0.58 per share, up from $0.57, representing an annualized yield of 2.9%.

Aptus Capital Advisors LLC increased its holdings in shares of Kellanova (NYSE:K - Free Report) by 92.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,332 shares of the company's stock after buying an additional 4,953 shares during the quarter. Aptus Capital Advisors LLC's holdings in Kellanova were worth $852,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Grove Bank & Trust purchased a new stake in shares of Kellanova in the first quarter worth approximately $25,000. Financial Network Wealth Advisors LLC purchased a new stake in Kellanova in the 1st quarter worth approximately $25,000. MorganRosel Wealth Management LLC acquired a new stake in shares of Kellanova during the 1st quarter valued at $27,000. Accredited Wealth Management LLC purchased a new position in shares of Kellanova during the 4th quarter valued at $36,000. Finally, Minot DeBlois Advisors LLC acquired a new position in shares of Kellanova in the fourth quarter worth $42,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $79.98, for a total transaction of $9,164,348.34. Following the completion of the transaction, the insider directly owned 45,212,037 shares in the company, valued at $3,616,058,719.26. This represents a 0.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 1,260,413 shares of company stock valued at $100,975,123 over the last three months. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

K has been the topic of a number of recent research reports. Wall Street Zen downgraded Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. began coverage on Kellanova in a research note on Wednesday. They issued a "neutral" rating and a $83.50 price target for the company. Finally, Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 price objective on the stock in a report on Thursday, May 29th. Six research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $83.40.

Kellanova Stock Performance

Shares of NYSE K opened at $79.9750 on Friday. The firm has a market cap of $27.80 billion, a price-to-earnings ratio of 20.99, a P/E/G ratio of 4.96 and a beta of 0.27. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68. The business's 50-day simple moving average is $79.70 and its 200-day simple moving average is $81.41. Kellanova has a 52 week low of $77.70 and a 52 week high of $83.22.

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

Kellanova Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.58 per share. This is a positive change from Kellanova's previous quarterly dividend of $0.57. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.9%. Kellanova's payout ratio is 59.84%.

Kellanova Company 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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