Intech Investment Management LLC Sells 21,635 Shares of Kellanova (NYSE:K)

Intech Investment Management LLC cut its holdings in Kellanova (NYSE:K - Free Report) by 16.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 106,446 shares of the company's stock after selling 21,635 shares during the quarter. Intech Investment Management LLC's holdings in Kellanova were worth $8,591,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Blue Trust Inc. boosted its holdings in shares of Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company's stock valued at $27,000 after acquiring an additional 170 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of Kellanova in the second quarter valued at about $29,000. CVA Family Office LLC boosted its holdings in shares of Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company's stock valued at $29,000 after acquiring an additional 307 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in shares of Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company's stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. Finally, MCF Advisors LLC boosted its holdings in shares of Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company's stock valued at $34,000 after acquiring an additional 137 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Stock Performance

Shares of NYSE:K traded up $0.15 on Friday, reaching $81.17. 1,525,416 shares of the company's stock were exchanged, compared to its average volume of 3,012,862. The firm has a market capitalization of $27.98 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 2.59 and a beta of 0.39. Kellanova has a fifty-two week low of $51.02 and a fifty-two week high of $81.34. The business's 50-day moving average is $80.76 and its two-hundred day moving average is $70.50. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K - Get Free Report) last issued 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 net margin of 7.85% and a return on equity of 37.05%. The company had revenue of $3.23 billion for the quarter, compared to analysts' expectations of $3.16 billion. During the same period in the prior year, the company earned $1.03 earnings per share. The firm's revenue was down .7% compared to the same quarter last year. As a group, equities research analysts forecast 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. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.81%. Kellanova's payout ratio is 78.35%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on K. Piper Sandler lifted their target price on shares of Kellanova from $63.00 to $83.50 and gave the company a "neutral" rating in a report on Thursday, August 15th. Argus downgraded shares of Kellanova from a "buy" rating to a "hold" rating in a report on Wednesday, October 2nd. StockNews.com began coverage on shares of Kellanova in a report on Wednesday. They issued a "hold" rating on the stock. Bank of America raised shares of Kellanova from a "neutral" rating to a "buy" rating and upped their price target for the company from $62.00 to $70.00 in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Kellanova from $76.00 to $83.50 and gave the company a "hold" rating in a research report on Thursday, August 15th. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $76.35.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the transaction, the insider now directly owns 50,482,855 shares in the company, valued at $4,051,249,113.75. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders sold 1,109,047 shares of company stock worth $89,483,556. Corporate insiders own 1.80% of the company's stock.

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.