Cantor Fitzgerald Investment Advisors L.P. Makes New $13.96 Million Investment in Kellanova (NYSE:K)

Cantor Fitzgerald Investment Advisors L.P. purchased a new position in Kellanova (NYSE:KFree Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 249,603 shares of the company’s stock, valued at approximately $13,955,000. Cantor Fitzgerald Investment Advisors L.P. owned about 0.07% of Kellanova at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Naples Global Advisors LLC raised its stake in shares of Kellanova by 1.7% in the fourth quarter. Naples Global Advisors LLC now owns 11,696 shares of the company’s stock worth $654,000 after acquiring an additional 200 shares during the last quarter. Huntington National Bank raised its stake in shares of Kellanova by 1.6% in the third quarter. Huntington National Bank now owns 12,808 shares of the company’s stock worth $762,000 after acquiring an additional 204 shares during the last quarter. Financial Advisors Network Inc. raised its stake in shares of Kellanova by 4.2% in the fourth quarter. Financial Advisors Network Inc. now owns 5,040 shares of the company’s stock worth $282,000 after acquiring an additional 204 shares during the last quarter. Blue Trust Inc. grew its position in shares of Kellanova by 55.1% during the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after buying an additional 206 shares during the period. Finally, Kennedy Investment Group grew its position in shares of Kellanova by 1.2% during the 4th quarter. Kennedy Investment Group now owns 18,520 shares of the company’s stock worth $1,035,000 after buying an additional 218 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Stock Performance

NYSE K traded down $0.29 on Friday, hitting $61.04. 1,689,092 shares of the stock were exchanged, compared to its average volume of 3,176,386. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. The business’s fifty day moving average is $58.44 and its 200 day moving average is $55.81. Kellanova has a 52 week low of $47.63 and a 52 week high of $68.69. The company has a market capitalization of $20.87 billion, a PE ratio of 22.86, a P/E/G ratio of 2.17 and a beta of 0.39.

Kellanova (NYSE:KGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The company’s revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.10 earnings per share. Research analysts anticipate that Kellanova will post 3.62 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.67%. The ex-dividend date is Monday, June 3rd. Kellanova’s dividend payout ratio is currently 83.90%.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $62.31, for a total transaction of $4,847,718.00. Following the sale, the insider now directly owns 51,686,638 shares of the company’s stock, valued at approximately $3,220,594,413.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the sale, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $62.31, for a total transaction of $4,847,718.00. Following the sale, the insider now directly owns 51,686,638 shares in the company, valued at $3,220,594,413.78. The disclosure for this sale can be found here. Insiders have sold a total of 943,400 shares of company stock valued at $54,183,354 in the last ninety days. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. StockNews.com cut shares of Kellanova from a “buy” rating to a “hold” rating in a report on Friday, February 9th. DA Davidson boosted their price objective on shares of Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Wells Fargo & Company boosted their price objective on shares of Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Citigroup began coverage on shares of Kellanova in a research report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price objective on the stock. Finally, Piper Sandler boosted their price objective on shares of Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Kellanova has a consensus rating of “Hold” and a consensus target price of $61.85.

Read Our Latest Report on Kellanova

About Kellanova

(Free Report)

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.

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Institutional Ownership by Quarter for Kellanova (NYSE:K)

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