Cerity Partners LLC Grows Stock Holdings in Kellanova (NYSE:K)

Cerity Partners LLC lifted its stake in Kellanova (NYSE:K - Free Report) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 197,355 shares of the company's stock after buying an additional 6,685 shares during the period. Cerity Partners LLC owned approximately 0.06% of Kellanova worth $15,928,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of K. Blue Trust Inc. grew its stake in shares of Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company's stock worth $27,000 after purchasing an additional 170 shares during the last quarter. Family Firm Inc. bought a new stake in Kellanova during the 2nd quarter valued at approximately $29,000. CVA Family Office LLC grew its holdings in Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company's stock worth $29,000 after purchasing an additional 307 shares during the period. Newbridge Financial Services Group Inc. raised its position in Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company's stock worth $30,000 after acquiring an additional 200 shares during the period. Finally, MCF Advisors LLC raised its position in Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company's stock worth $34,000 after acquiring an additional 137 shares during the period. Institutional investors own 83.87% of the company's stock.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $80.99, for a total value of $9,280,077.17. Following the completion of the sale, the insider now directly owns 49,337,025 shares in the company, valued at $3,995,805,654.75. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 1,109,047 shares of company stock valued at $89,483,556. 1.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on K shares. JPMorgan Chase & Co. increased their price target on shares of Kellanova from $66.00 to $69.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. BNP Paribas downgraded shares of Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price objective on the stock. in a research report on Friday, November 1st. StockNews.com initiated coverage on shares of Kellanova in a research report on Wednesday, November 20th. They set a "hold" rating on the stock. 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 research report on Thursday, August 15th. Finally, The Goldman Sachs Group initiated coverage on shares of Kellanova in a research report on Monday, August 12th. They set a "neutral" rating and a $75.00 price objective on the stock. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Kellanova presently has a consensus rating of "Hold" and an average target price of $76.35.

Kellanova Stock Up 0.0 %

NYSE:K traded up $0.03 during mid-day trading on Tuesday, reaching $81.14. The company's stock had a trading volume of 539,488 shares, compared to its average volume of 3,006,296. 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 firm has a market capitalization of $27.97 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39. The stock has a fifty day moving average of $80.78 and a 200-day moving average of $70.85. Kellanova has a 1 year low of $51.02 and a 1 year high of $81.34.

Kellanova (NYSE:K - Get Free Report) 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 return on equity of 37.05% and a net margin of 7.85%. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. Kellanova's revenue was down .7% on a year-over-year basis. Equities research analysts forecast that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Dividend Announcement

The company 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 $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova's payout ratio is 78.35%.

Kellanova Company 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.