Kellanova (NYSE:K) Shares Sold by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec reduced its position in shares of Kellanova (NYSE:K - Free Report) by 95.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,254 shares of the company's stock after selling 137,900 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in Kellanova were worth $585,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in K. Swedbank AB grew its stake in shares of Kellanova by 20.5% in the third quarter. Swedbank AB now owns 273,521 shares of the company's stock worth $22,076,000 after purchasing an additional 46,450 shares during the last quarter. SG Americas Securities LLC grew its position in Kellanova by 498.7% in the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company's stock worth $15,049,000 after purchasing an additional 217,320 shares in the last quarter. Principal Financial Group Inc. grew its position in Kellanova by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company's stock worth $30,169,000 after purchasing an additional 24,067 shares in the last quarter. Atria Investments Inc bought a new stake in Kellanova in the 1st quarter worth about $1,003,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Kellanova in the 3rd quarter worth about $4,211,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Price Performance

K stock traded down $0.12 during trading on Wednesday, hitting $80.47. 2,040,450 shares of the company's stock traded hands, compared to its average volume of 2,979,985. Kellanova has a 52 week low of $52.46 and a 52 week 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. The business has a fifty day simple moving average of $80.82 and a 200 day simple moving average of $71.65. The stock has a market capitalization of $27.74 billion, a price-to-earnings ratio of 27.65, a P/E/G ratio of 2.59 and a beta of 0.38.

Kellanova (NYSE:K - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.23 billion during 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 was down .7% on a year-over-year basis. During the same quarter last year, the business earned $1.03 EPS. As a group, research analysts expect that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Monday, December 2nd. Kellanova's dividend payout ratio (DPR) is 78.35%.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $81.21, for a total value of $9,305,285.43. Following the transaction, the insider now owns 49,222,442 shares of the company's stock, valued at $3,997,354,514.82. The trade was a 0.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 1,145,830 shares of company stock valued at $92,516,606. Company insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on K shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Kellanova from $76.00 to $83.50 and gave the company a "hold" rating in a research note on Thursday, August 15th. DA Davidson downgraded shares of Kellanova from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Piper Sandler boosted their price target on shares of Kellanova from $63.00 to $83.50 and gave the stock a "neutral" rating in a research note on Thursday, August 15th. Argus cut shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Wednesday, October 2nd. Finally, The Goldman Sachs Group started coverage on shares of Kellanova in a research report on Monday, August 12th. They set a "neutral" rating and a $75.00 price target on the stock. Fifteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus 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.