The Manufacturers Life Insurance Company Has $17.14 Million Position in Kellanova (NYSE:K)

The Manufacturers Life Insurance Company lowered its stake in shares of Kellanova (NYSE:K - Free Report) by 6.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 212,347 shares of the company's stock after selling 15,271 shares during the period. The Manufacturers Life Insurance Company owned about 0.06% of Kellanova worth $17,139,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of K. Bank of Montreal Can raised its holdings in Kellanova by 19.5% in the 3rd quarter. Bank of Montreal Can now owns 1,051,532 shares of the company's stock worth $84,943,000 after acquiring an additional 171,609 shares during the period. Summit Trail Advisors LLC increased its holdings in shares of Kellanova by 140.8% during the 3rd quarter. Summit Trail Advisors LLC now owns 8,557 shares of the company's stock worth $691,000 after purchasing an additional 5,003 shares during the period. Swedbank AB increased its holdings in shares of Kellanova by 20.5% during the 3rd 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 period. Cerity Partners LLC increased its holdings in shares of Kellanova by 3.5% during the 3rd quarter. Cerity Partners LLC now owns 197,355 shares of the company's stock worth $15,928,000 after purchasing an additional 6,685 shares during the period. Finally, Biltmore Family Office LLC boosted its position in shares of Kellanova by 4.3% during the 3rd quarter. Biltmore Family Office LLC now owns 7,304 shares of the company's stock valued at $590,000 after acquiring an additional 304 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Kellanova Stock Down 0.2 %

Shares of K stock traded down $0.13 during trading hours on Monday, hitting $80.59. 916,974 shares of the company were exchanged, compared to its average volume of 2,984,033. The business has a 50 day moving average of $80.82 and a two-hundred day moving average of $71.39. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. Kellanova has a 52 week low of $52.46 and a 52 week high of $81.34. The company has a market capitalization of $27.78 billion, a PE ratio of 27.71, a PEG ratio of 2.61 and a beta of 0.39.

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

Kellanova Announces Dividend

The company 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 $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova's dividend payout ratio is currently 78.35%.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the transaction, the insider now directly owns 50,368,272 shares of the company's stock, valued at approximately $4,062,201,136.80. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 1,145,830 shares of company stock worth $92,516,606 over the last quarter. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on K shares. The Goldman Sachs Group started coverage on shares of Kellanova in a research report on Monday, August 12th. They issued a "neutral" rating and a $75.00 price target on the stock. Argus lowered shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Wednesday, October 2nd. Wells Fargo & Company boosted their price target 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. DA Davidson lowered shares of Kellanova from a "buy" rating to a "neutral" rating and boosted their price target for the company from $80.00 to $83.50 in a research report on Monday, August 26th. Finally, BNP Paribas lowered shares of Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price target on the stock. in a research report on Friday, November 1st. Fifteen investment 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, the stock presently has an average rating of "Hold" and an average price target of $76.35.

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.