Calamos Advisors LLC sells 1,694 shares of Kellanova (NYSE:K)


Calamos Advisors LLC cut its stake in Kellanova (NYSE:K – Free Report) by 1.3% in the fourth quarter, HoldingsChannel reports. The company owned 129,665 shares of the company’s stock after selling 1,694 shares during the period. Calamos Advisors LLC’s holdings in Kellanova were worth $7,250,000 at the time of the most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of K. Comerica Bank acquired a new stake in shares of Kellanova worth $4,974,000 in the third quarter. Raymond James & Associates increased its position in Kellanova by 11.9% during the fourth quarter. Raymond James & Associates now owns 400,371 shares of the company’s stock worth $22,385,000 after acquiring an additional 42,656 shares during the last quarter. Soltis Investment Advisors LLC grew its holdings in Kellanova by 25.7% in the third quarter. Soltis Investment Advisors LLC now owns 46,127 shares of the company’s stock valued at $2,745,000 after acquiring an additional 9,434 shares during the period. CX Institutional grew its position in shares of Kellanova by 52.9% in the fourth quarter. CX Institutional now owns 59,975 shares of the company’s stock valued at $3,353,000 after purchasing an additional 20,752 shares during the last quarter. Finally, Savoir Faire Capital Management LP bought a new position in Kellanova stock in the third quarter worth approximately $3,248,000. 83.87% of the shares are held by institutional investors and hedge funds.

Kellanova stock performance

NYSE:K opened at $57.38 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.66 and a debt-to-equity ratio of 1.51. The company has a 50-day moving average of $55.61 and a 200-day moving average of $54.04. The company has a market cap of $19.61 billion, a price-to-earnings ratio of 20.87, a price-to-earnings growth ratio of 2.14, and a beta of 0.40. Kellanova has a 12-month low of $47.63 and a 12-month high of $72.30.

Kellanova (NYSE:K – Get Free Report) last posted its earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.07 billion. In the same quarter last year, the company earned earnings per share of $0.94. Kellanova’s sales increased 0.3% year-on-year. Research analysts expect Kellanova to post earnings per share of 3.57 for the current fiscal year.

Kellanova dividend announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15. A dividend of $0.56 was paid to known shareholders on Friday, March 1. This represents a dividend of $2.24 annually and a dividend yield of 3.90%. The ex-dividend date of this dividend was Thursday, February 29. Kellanova’s payout ratio is 81.45%.

Buying and selling with insider information

In other news, major shareholder Kellogg WK Foundation Trust sold 77,800 shares of Kellanova in a transaction that took place on Monday, January 22. The shares sold at an average price of $53.59, for a total value of $4,169,302.00. Following the completion of the transaction, the insider now owns 52,853,638 shares in the company, valued at $2,832,426,460.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Insiders sold 933,600 company shares worth $51,308,322 in the last quarter. 1.80% of the shares are owned by business insiders.

Wall Street analysts predict growth

Several brokerages recently raised their price on K. Barclays from $55.00 to $60.00 and gave the company an “equalweight” rating in a research note on Monday, February 12th. StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. DA Davidson initiated coverage on shares of Kellanova in a research report on Friday, March 1. They set a buy rating and a $67.00 target price for the stock. JPMorgan Chase & Co. raised their price target on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, Piper Sandler raised their price objective on shares of Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, February 12. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Kellanova has an average rating of “Hold” and a consensus target price of $62.27.

Get our latest stock analysis on Kellanova

Kellanova profile

(Free report)

Kellanova, together with its subsidiaries, produces and sells snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia and Africa. Key products include crackers, chips, savory snacks, toaster pastries, granola bars, muesli bars and snacks, ready-to-eat breakfast cereals, frozen waffles, vegetarian foods and noodles.

Also see

Want to see which other hedge funds own K? Visit HoldingsChannel.com for the latest 13F filings and insider trades for Kellanova (NYSE:K – Free Report).

Quarterly Institutional Ownership for Kellanova (NYSE:K)



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