Mount Yale Investment Advisors LLC Grows Holdings in Kellanova (NYSE:K)

Mount Yale Investment Advisors LLC boosted its position in Kellanova (NYSE:K) by 42.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 7,517 shares of the company’s stock after acquiring an additional 2,257 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Kellanova were worth $431,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Kellanova by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock valued at $1,797,525,000 after acquiring an additional 1,130,582 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Kellanova by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company’s stock worth $316,323,000 after purchasing an additional 98,294 shares during the last quarter. Beutel Goodman & Co Ltd. grew its stake in Kellanova by 15.5% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock worth $273,504,000 after purchasing an additional 655,686 shares in the last quarter. Norges Bank bought a new stake in shares of Kellanova in the 4th quarter valued at approximately $150,184,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Kellanova by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,233,907 shares of the company’s stock valued at $124,893,000 after acquiring an additional 9,726 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Stock Performance

Shares of K traded down $0.34 during trading hours on Monday, reaching $57.13. 1,870,711 shares of the company’s stock traded hands, compared to its average volume of 2,772,211. The firm has a market capitalization of $19.53 billion, a price-to-earnings ratio of 21.36, a P/E/G ratio of 2.09 and a beta of 0.35. The business’s fifty day simple moving average is $58.46 and its two-hundred day simple moving average is $57.10. Kellanova has a twelve month low of $47.63 and a twelve month high of $67.79. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. Kellanova’s revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.10 EPS. Analysts predict that Kellanova will post 3.61 earnings per share for the current year.

Kellanova Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.57 per share. This is a boost from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a dividend yield of 3.99%. Kellanova’s dividend payout ratio (DPR) is 83.90%.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $60.92, for a total transaction of $4,739,576.00. Following the completion of the transaction, the insider now owns 51,764,438 shares of the company’s stock, valued at $3,153,489,562.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Nicolas Amaya sold 9,800 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the sale, the senior vice president now owns 26,191 shares in the company, valued at approximately $1,572,769.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $60.92, for a total value of $4,739,576.00. Following the completion of the transaction, the insider now owns 51,764,438 shares in the company, valued at $3,153,489,562.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 787,800 shares of company stock valued at $46,384,682. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on K. Barclays decreased their price objective on shares of Kellanova from $64.00 to $61.00 and set an “equal weight” rating for the company in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Kellanova from $62.00 to $60.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. raised their target price on shares of Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. TD Cowen upped their target price on Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Finally, Bank of America cut their price target on Kellanova from $64.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Thirteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $61.50.

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.