Metis Global Partners LLC Reduces Stake in Kellanova $K

Metis Global Partners LLC cut its holdings in shares of Kellanova (NYSE:K) by 3.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,586 shares of the company’s stock after selling 785 shares during the period. Metis Global Partners LLC’s holdings in Kellanova were worth $1,717,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in K. Financial Network Wealth Advisors LLC purchased a new position in Kellanova during the 1st quarter valued at $25,000. Trust Co. of Toledo NA OH purchased a new stake in shares of Kellanova in the 2nd quarter worth about $45,000. Dagco Inc. bought a new stake in shares of Kellanova during the 1st quarter valued at about $49,000. Cypress Capital Management LLC WY purchased a new position in shares of Kellanova during the first quarter valued at about $54,000. Finally, Capital Advisors Ltd. LLC raised its stake in Kellanova by 32.7% in the second quarter. Capital Advisors Ltd. LLC now owns 718 shares of the company’s stock worth $57,000 after buying an additional 177 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

Shares of K opened at $83.32 on Tuesday. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03. The stock has a market cap of $28.99 billion, a P/E ratio of 21.87, a P/E/G ratio of 5.16 and a beta of 0.23. The business’s 50 day moving average price is $81.26 and its 200-day moving average price is $80.88. Kellanova has a 52 week low of $76.48 and a 52 week high of $83.42.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.25 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the company earned $0.91 EPS. Equities research analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. Kellanova’s payout ratio is currently 63.74%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on K shares. Weiss Ratings cut Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. JPMorgan Chase & Co. initiated coverage on Kellanova in a research note on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 target price for the company. Finally, Wall Street Zen raised Kellanova from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Kellanova presently has an average rating of “Hold” and an average price target of $83.50.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the sale, the insider directly owned 45,097,438 shares of the company’s stock, valued at approximately $3,587,501,192.90. This 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. In the last quarter, insiders have sold 343,765 shares of company stock valued at $27,455,360. Insiders own 1.80% of the company’s stock.

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.