Janney Montgomery Scott LLC Sells 18,105 Shares of Kellanova (NYSE:K)

Janney Montgomery Scott LLC reduced its position in Kellanova (NYSE:K - Free Report) by 43.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,119 shares of the company's stock after selling 18,105 shares during the quarter. Janney Montgomery Scott LLC's holdings in Kellanova were worth $1,866,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Sei Investments Co. raised its stake in Kellanova by 2.6% in the 1st quarter. Sei Investments Co. now owns 79,195 shares of the company's stock valued at $4,537,000 after purchasing an additional 1,984 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Kellanova by 16.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 593,241 shares of the company's stock valued at $33,987,000 after purchasing an additional 85,748 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Kellanova by 8.3% in the 1st quarter. TD Asset Management Inc now owns 1,350,790 shares of the company's stock valued at $77,387,000 after purchasing an additional 103,517 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Kellanova by 7.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 311,719 shares of the company's stock worth $17,858,000 after acquiring an additional 20,995 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Kellanova by 19.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 365,290 shares of the company's stock worth $20,927,000 after purchasing an additional 58,259 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $80.76, for a total value of $9,253,723.08. Following the completion of the transaction, the insider now directly owns 49,680,774 shares in the company, valued at $4,012,219,308.24. This trade 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 through this link. Insiders have sold a total of 1,072,264 shares of company stock worth $86,452,375 over the last 90 days. Insiders own 1.80% of the company's stock.

Kellanova Price Performance

Shares of NYSE K traded down $0.32 during mid-day trading on Thursday, reaching $80.86. The company had a trading volume of 2,453,684 shares, compared to its average volume of 3,036,640. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The stock has a market cap of $27.87 billion, a PE ratio of 27.86, a P/E/G ratio of 2.60 and a beta of 0.39. The company has a 50-day moving average price of $80.69 and a two-hundred day moving average price of $69.67. Kellanova has a 1-year low of $51.02 and a 1-year high of $81.34.

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, beating analysts' consensus estimates of $0.85 by $0.06. The company had revenue of $3.23 billion for 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 quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS. On average, equities analysts anticipate that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently disclosed 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 is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.82%. Kellanova's dividend payout ratio is currently 78.35%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on K. Royal Bank of Canada downgraded Kellanova from an "outperform" rating to a "sector perform" rating and increased their target price for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. BNP Paribas lowered Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price target for the company. in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their price target on Kellanova from $76.00 to $83.50 and gave the stock a "hold" rating in a research note on Thursday, August 15th. The Goldman Sachs Group started coverage on Kellanova in a research note on Monday, August 12th. They set a "neutral" rating and a $75.00 price target for the company. Finally, DA Davidson lowered Kellanova from a "buy" rating to a "neutral" rating and increased their target price for the company from $80.00 to $83.50 in a research note on Monday, August 26th. Fifteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Kellanova presently has an average rating of "Hold" and an average price target of $76.35.

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.