Ascent Group LLC Has $416,000 Position in Kellanova $K

Ascent Group LLC cut its position in shares of Kellanova (NYSE:K) by 84.1% during the 3rd quarter, Holdings Channel reports. The firm owned 5,072 shares of the company’s stock after selling 26,784 shares during the quarter. Ascent Group LLC’s holdings in Kellanova were worth $416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of K. Trust Co. of Toledo NA OH acquired a new position in Kellanova during the second quarter worth approximately $45,000. CYBER HORNET ETFs LLC bought a new position in shares of Kellanova during the 2nd quarter worth approximately $55,000. Capital Advisors Ltd. LLC increased its holdings in shares of Kellanova by 32.7% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 718 shares of the company’s stock worth $57,000 after acquiring an additional 177 shares during the last quarter. CoreFirst Bank & Trust bought a new stake in Kellanova in the 2nd quarter valued at $59,000. Finally, ST Germain D J Co. Inc. lifted its holdings in Kellanova by 114.3% during the 2nd quarter. ST Germain D J Co. Inc. now owns 750 shares of the company’s stock valued at $60,000 after purchasing an additional 400 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on K. Wall Street Zen upgraded shares of Kellanova from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings lowered shares of Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Kellanova presently has an average rating of “Hold” and a consensus target price of $83.50.

Kellanova Stock Performance

Shares of NYSE:K opened at $83.44 on Friday. Kellanova has a 12-month low of $76.48 and a 12-month high of $83.65. The company’s 50 day moving average price is $83.35 and its two-hundred day moving average price is $81.25. The firm has a market cap of $29.03 billion, a PE ratio of 22.92, a PEG ratio of 11.61 and a beta of 0.23. The company has a quick ratio of 0.44, a current ratio of 0.68 and a debt-to-equity ratio of 1.01.

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

Kellanova Dividend Announcement

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

Kellanova Profile

Kellanova (NYSE: K) is a global consumer foods company formed from the reorganization of the historic Kellogg business. The company focuses on the manufacture, marketing and distribution of packaged food products across several categories, with an emphasis on snacks, ready-to-eat cereals, frozen breakfast and other convenience foods. Kellanova’s operations draw on a long consumer-brands heritage and a portfolio designed to reach everyday retail and snack occasions around the world.

Kellanova’s activities include product development, manufacturing, marketing and global supply-chain management for branded food products.