BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $3.68 Million Holdings in Kellanova (NYSE:K)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in shares of Kellanova (NYSE:K - Free Report) by 12.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,630 shares of the company's stock after selling 6,733 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Kellanova were worth $3,683,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Atria Investments Inc bought a new stake in shares of Kellanova in the first quarter valued at about $1,003,000. Cetera Investment Advisers raised its stake in shares of Kellanova by 393.2% in the first quarter. Cetera Investment Advisers now owns 117,392 shares of the company's stock valued at $6,725,000 after acquiring an additional 93,588 shares during the last quarter. Cetera Advisors LLC raised its position in Kellanova by 61.5% in the 1st quarter. Cetera Advisors LLC now owns 24,530 shares of the company's stock valued at $1,405,000 after purchasing an additional 9,338 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Kellanova by 67.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 2,067 shares of the company's stock worth $119,000 after acquiring an additional 836 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC raised its stake in shares of Kellanova by 16.1% in the second quarter. Kingswood Wealth Advisors LLC now owns 5,402 shares of the company's stock worth $312,000 after acquiring an additional 750 shares during the last quarter. 83.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

K has been the subject of a number of research reports. Barclays increased their target price on Kellanova from $67.00 to $83.00 and gave the stock an "equal weight" rating in a report on Thursday, August 15th. Royal Bank of Canada cut shares of Kellanova from an "outperform" rating to a "sector perform" rating and upped their price objective for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. Stifel Nicolaus upped their price objective on shares of Kellanova from $64.00 to $76.00 and gave the stock a "hold" rating in a research report on Monday, August 12th. Wells Fargo & Company raised their price objective on shares of Kellanova from $76.00 to $83.50 and gave the company an "equal weight" rating in a report on Thursday, August 15th. Finally, DA Davidson lowered shares of Kellanova from a "buy" rating to a "neutral" rating and raised their price target for the stock from $80.00 to $83.50 in a report on Monday, August 26th. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $76.35.

Kellanova Stock Down 0.1 %

Shares of K traded down $0.12 during midday trading on Wednesday, hitting $80.47. The company had a trading volume of 2,040,450 shares, compared to its average volume of 2,979,985. The company's 50-day simple moving average is $80.82 and its 200-day simple moving average is $71.78. The firm has a market capitalization of $27.74 billion, a P/E ratio of 27.65, a P/E/G ratio of 2.59 and a beta of 0.38. Kellanova has a 1 year low of $52.46 and a 1 year high of $81.34. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm's revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 EPS. As a group, sell-side analysts expect that Kellanova will post 3.74 EPS for the current year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova's payout ratio is 78.35%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the sale, the insider now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 1,145,830 shares of company stock worth $92,516,606. 1.80% of the stock is currently owned by company insiders.

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.