GABELLI & Co INVESTMENT ADVISERS INC. Acquires 20,300 Shares of Kellanova $K

GABELLI & Co INVESTMENT ADVISERS INC. boosted its holdings in Kellanova (NYSE:K) by 5.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 368,643 shares of the company’s stock after purchasing an additional 20,300 shares during the quarter. Kellanova comprises 4.5% of GABELLI & Co INVESTMENT ADVISERS INC.’s investment portfolio, making the stock its 2nd largest holding. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Kellanova were worth $29,318,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Financial Network Wealth Advisors LLC acquired a new position in Kellanova in the first quarter valued at $25,000. Trust Co. of Toledo NA OH acquired a new stake in shares of Kellanova during the second quarter worth about $45,000. Dagco Inc. purchased a new position in shares of Kellanova during the first quarter worth about $49,000. Capital Advisors Ltd. LLC increased its position in Kellanova by 32.7% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 718 shares of the company’s stock valued at $57,000 after acquiring an additional 177 shares during the period. Finally, ST Germain D J Co. Inc. increased its position in Kellanova by 114.3% in the 2nd quarter. ST Germain D J Co. Inc. now owns 750 shares of the company’s stock valued at $60,000 after acquiring an additional 400 shares during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Price Performance

Shares of K opened at $83.12 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.44 and a debt-to-equity ratio of 1.01. The stock’s 50 day moving average is $83.08 and its two-hundred day moving average is $81.01. Kellanova has a twelve month low of $76.48 and a twelve month high of $83.65. The firm has a market capitalization of $28.92 billion, a PE ratio of 22.83, a P/E/G ratio of 11.57 and a beta of 0.23.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.94 EPS 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 business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same period last year, the firm earned $0.91 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. Research analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.58 dividend. 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 (DPR) is 63.74%.

Analyst Ratings Changes

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

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.