Kovack Advisors Inc. Has $511,000 Stock Holdings in Kellanova (NYSE:K)

Kovack Advisors Inc. grew its holdings in shares of Kellanova (NYSE:K) by 18.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,325 shares of the company’s stock after buying an additional 975 shares during the quarter. Kovack Advisors Inc.’s holdings in Kellanova were worth $511,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Mengis Capital Management Inc. purchased a new stake in Kellanova in the 3rd quarter valued at $272,000. Simmons Bank purchased a new stake in shares of Kellanova in the third quarter valued at about $219,000. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Kellanova by 2.4% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 454,608 shares of the company’s stock valued at $36,691,000 after purchasing an additional 10,639 shares in the last quarter. Entropy Technologies LP boosted its holdings in Kellanova by 80.0% during the third quarter. Entropy Technologies LP now owns 62,296 shares of the company’s stock worth $5,028,000 after purchasing an additional 27,692 shares during the last quarter. Finally, Versor Investments LP bought a new stake in Kellanova in the 3rd quarter worth about $4,419,000. 83.87% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, September 9th. The shares were sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the completion of the sale, the insider now directly owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 1,072,264 shares of company stock worth $86,452,375 in the last ninety days. 1.80% of the stock is currently owned by insiders.

Kellanova Stock Down 0.4 %

K stock opened at $80.86 on Friday. Kellanova has a twelve month low of $51.02 and a twelve month high of $81.34. The firm has a market capitalization of $27.87 billion, a PE ratio of 27.79, a PEG ratio of 2.60 and a beta of 0.39. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock has a 50-day simple moving average of $80.69 and a two-hundred day simple moving average of $69.67.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. Kellanova’s revenue was down .7% on a year-over-year basis. On average, equities analysts predict that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on K. Deutsche Bank Aktiengesellschaft boosted their target price on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Bank of America raised Kellanova from a “neutral” rating to a “buy” rating and raised their target price for the company from $62.00 to $70.00 in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their price target on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Royal Bank of Canada lowered shares of Kellanova from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. Finally, Stifel Nicolaus boosted their target price on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Fifteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $76.35.

Kellanova 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.