Jensen Investment Management Inc. Sells 86,320 Shares of Kellanova (NYSE:K)

Jensen Investment Management Inc. cut its stake in shares of Kellanova (NYSE:K - Free Report) by 85.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,127 shares of the company's stock after selling 86,320 shares during the quarter. Jensen Investment Management Inc.'s holdings in Kellanova were worth $1,140,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of K. Blue Trust Inc. boosted its position in Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company's stock worth $27,000 after acquiring an additional 170 shares during the period. Family Firm Inc. acquired a new stake in shares of Kellanova during the second quarter worth approximately $29,000. CVA Family Office LLC grew its position in Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company's stock valued at $29,000 after purchasing an additional 307 shares in the last quarter. Newbridge Financial Services Group Inc. increased its stake in Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company's stock valued at $30,000 after buying an additional 200 shares during the period. Finally, MCF Advisors LLC lifted its position in Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company's stock worth $34,000 after buying an additional 137 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. BNP Paribas cut shares of Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price target on the stock. in a report on Friday, November 1st. Bank of America raised Kellanova from a "neutral" rating to a "buy" rating and raised their price target for the stock from $62.00 to $70.00 in a research note on Friday, August 2nd. Wells Fargo & Company lifted their price target on Kellanova from $76.00 to $83.50 and gave the company an "equal weight" rating in a report on Thursday, August 15th. Royal Bank of Canada downgraded Kellanova from an "outperform" rating to a "sector perform" rating and increased their price objective for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. Finally, Argus downgraded shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Wednesday, October 2nd. Fifteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Kellanova presently has an average rating of "Hold" and a consensus target price of $76.35.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction on 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 sale, the insider now owns 50,482,855 shares in the company, valued at approximately $4,051,249,113.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $80.32, for a total value of $6,248,896.00. Following the completion of the sale, the insider now owns 50,675,238 shares in the company, valued at approximately $4,070,235,116.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's 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 completion of the transaction, the insider now owns 50,482,855 shares of the company's stock, valued at $4,051,249,113.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,150,064 shares of company stock valued at $92,680,265. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Stock Performance

NYSE K traded up $0.34 during midday trading on Friday, hitting $81.00. The company had a trading volume of 1,241,579 shares, compared to its average volume of 1,971,839. The firm has a fifty day simple moving average of $80.65 and a two-hundred day simple moving average of $69.11. The stock has a market cap of $27.92 billion, a price-to-earnings ratio of 27.84, a P/E/G ratio of 2.60 and a beta of 0.39. 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 has a fifty-two week low of $51.02 and a fifty-two week high of $81.26.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 EPS. Equities analysts forecast that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently declared 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. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova's dividend payout ratio is 78.35%.

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.