Victory Capital Management Inc. Sells 294,253 Shares of Kellanova (NYSE:K)

Victory Capital Management Inc. lessened its stake in Kellanova (NYSE:K - Free Report) by 59.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 202,325 shares of the company's stock after selling 294,253 shares during the period. Victory Capital Management Inc. owned 0.06% of Kellanova worth $16,330,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in K. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of Kellanova by 2.4% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 454,608 shares of the company's stock worth $36,691,000 after acquiring an additional 10,639 shares in the last quarter. Entropy Technologies LP boosted its stake in shares of Kellanova by 80.0% during the 3rd quarter. Entropy Technologies LP now owns 62,296 shares of the company's stock worth $5,028,000 after acquiring an additional 27,692 shares in the last quarter. Versor Investments LP acquired a new position in shares of Kellanova during the 3rd quarter worth approximately $4,419,000. Wolverine Asset Management LLC acquired a new position in shares of Kellanova during the 3rd quarter worth approximately $1,815,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Kellanova during the 3rd quarter worth approximately $78,000. Hedge funds and other institutional investors own 83.87% of the company's stock.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.96, for a total transaction of $9,276,639.68. Following the completion of the sale, the insider now owns 49,795,357 shares in the company, valued at approximately $4,031,432,102.72. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 994,464 shares of company stock valued at $80,203,479. Corporate insiders own 1.80% of the company's stock.

Kellanova Price Performance

Shares of K stock traded up $0.22 during trading hours on Wednesday, reaching $80.77. 1,383,867 shares of the company were exchanged, compared to its average volume of 3,024,717. Kellanova has a fifty-two week low of $51.02 and a fifty-two week high of $81.34. The stock's fifty day moving average is $80.73 and its two-hundred day moving average is $70.29. The company has a market cap of $27.84 billion, a price-to-earnings ratio of 27.66, a P/E/G ratio of 2.59 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53.

Kellanova (NYSE:K - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share 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 company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the business posted $1.03 earnings per share. The business's revenue for the quarter was down .7% compared to the same quarter last year. Sell-side analysts forecast that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Monday, December 2nd. Kellanova's dividend payout ratio (DPR) is currently 78.35%.

Analyst Upgrades and Downgrades

K has been the subject of a number of research reports. BNP Paribas cut shares of Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price target for the company. in a research report on Friday, November 1st. Argus cut Kellanova from a "buy" rating to a "hold" rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their target price on Kellanova from $66.00 to $69.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. Barclays lifted their price objective on shares of Kellanova from $67.00 to $83.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group initiated coverage on shares of Kellanova in a report on Monday, August 12th. They set a "neutral" rating and a $75.00 price target on the stock. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Kellanova presently has an average rating of "Hold" and an average target price 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.