Integrated Wealth Concepts LLC Cuts Holdings in Kellanova (NYSE:K)

Integrated Wealth Concepts LLC lessened its holdings in shares of Kellanova (NYSE:K - Free Report) by 61.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,059 shares of the company's stock after selling 9,553 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Kellanova were worth $489,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in K. Blue Trust Inc. grew its holdings in shares of 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. bought a new stake in shares of Kellanova during the second quarter valued at approximately $29,000. CVA Family Office LLC grew its stake in Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company's stock worth $29,000 after purchasing an additional 307 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company's stock worth $30,000 after purchasing an additional 200 shares in the last quarter. Finally, MCF Advisors LLC lifted its position in Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company's stock valued at $34,000 after buying an additional 137 shares during the period. Hedge funds and other institutional investors own 83.87% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Argus cut Kellanova from a "buy" rating to a "hold" rating in a research note on Wednesday, October 2nd. 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 report on Friday, November 1st. Wells Fargo & Company increased their price objective 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 cut shares of Kellanova from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $80.00 to $83.50 in a report on Monday, August 26th. Finally, StockNews.com initiated coverage on shares of Kellanova in a report on Friday, December 6th. They set a "hold" rating on the stock. Fifteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $76.35.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $80.68, for a total value of $9,244,556.44. Following the completion of the sale, the insider now owns 50,253,689 shares of the company's stock, valued at $4,054,467,628.52. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 1,145,830 shares of company stock valued at $92,568,168 in the last ninety days. Insiders own 1.80% of the company's stock.

Kellanova Price Performance

K stock traded down $0.02 during midday trading on Wednesday, hitting $80.68. The company's stock had a trading volume of 1,648,020 shares, compared to its average volume of 2,947,578. The firm has a market capitalization of $27.81 billion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 2.59 and a beta of 0.38. 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 12 month low of $52.46 and a 12 month high of $81.34. The company has a 50 day moving average of $80.82 and a two-hundred day moving average of $72.31.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating 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 the consensus estimate of $3.16 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The business's revenue was down .7% on a year-over-year basis. On average, analysts expect that Kellanova will post 3.75 EPS 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 given a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. Kellanova's dividend payout ratio (DPR) is presently 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.