FORA Capital LLC Has $7.78 Million Position in Kellanova $K

FORA Capital LLC lifted its holdings in Kellanova (NYSE:K) by 68.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 97,820 shares of the company’s stock after acquiring an additional 39,680 shares during the quarter. Kellanova comprises about 0.9% of FORA Capital LLC’s investment portfolio, making the stock its 22nd largest position. FORA Capital LLC’s holdings in Kellanova were worth $7,780,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Trust Co. of Toledo NA OH acquired a new stake in Kellanova during the 2nd quarter worth about $45,000. Capital Advisors Ltd. LLC lifted its position in shares of 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 purchasing an additional 177 shares in the last quarter. CoreFirst Bank & Trust purchased a new stake in shares of Kellanova in the second quarter worth approximately $59,000. ST Germain D J Co. Inc. boosted its holdings in shares of Kellanova by 114.3% during the second quarter. ST Germain D J Co. Inc. now owns 750 shares of the company’s stock worth $60,000 after purchasing an additional 400 shares during the period. Finally, OFI Invest Asset Management grew its position in Kellanova by 41.2% during the second quarter. OFI Invest Asset Management now owns 1,250 shares of the company’s stock valued at $99,000 after purchasing an additional 365 shares in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Kellanova Stock Performance

Shares of NYSE:K opened at $83.44 on Friday. The stock has a market capitalization of $29.03 billion, a PE ratio of 22.92, a P/E/G ratio of 11.61 and a beta of 0.23. Kellanova has a 1 year low of $76.48 and a 1 year high of $83.65. The firm has a fifty day moving average price of $83.19 and a 200 day moving average price of $81.05. The company has a current ratio of 0.68, a quick ratio of 0.44 and a debt-to-equity ratio of 1.01.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 30th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.06. Kellanova had a return on equity of 31.73% and a net margin of 10.08%.The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same period last year, the company earned $0.91 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. Analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

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

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.