Connor Clark & Lunn Investment Management Ltd. Sells 19,999 Shares of Kellanova (NYSE:K)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of Kellanova (NYSE:K - Free Report) by 81.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,415 shares of the company's stock after selling 19,999 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Kellanova were worth $356,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in K. Blue Trust Inc. lifted its position in shares of Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company's stock worth $27,000 after purchasing an additional 170 shares during the last quarter. Family Firm Inc. acquired a new stake in Kellanova during the second quarter worth about $29,000. CVA Family Office LLC boosted its stake in Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company's stock valued at $29,000 after acquiring an additional 307 shares during the period. Newbridge Financial Services Group Inc. grew its stake in Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company's stock worth $30,000 after buying an additional 200 shares during the last quarter. Finally, MCF Advisors LLC lifted its stake in Kellanova by 48.8% in 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 last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $80.65, for a total value of $9,241,118.95. Following the sale, the insider now directly owns 50,368,272 shares in the company, valued at $4,062,201,136.80. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 1,145,830 shares of company stock valued at $92,516,606 in the last 90 days. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on K shares. Stifel Nicolaus raised their price target on shares of Kellanova from $64.00 to $76.00 and gave the company a "hold" rating in a research note on Monday, August 12th. Piper Sandler lifted their price target on Kellanova from $63.00 to $83.50 and gave the company a "neutral" rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their target price on Kellanova from $76.00 to $83.50 and gave the stock a "hold" rating in a report on Thursday, August 15th. Royal Bank of Canada lowered shares of Kellanova from an "outperform" rating to a "sector perform" rating and raised their price objective for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. Finally, Barclays increased their price objective on Kellanova from $67.00 to $83.00 and gave the company an "equal weight" rating in a research report on Thursday, August 15th. Fifteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Kellanova has an average rating of "Hold" and a consensus price target of $76.35.

Kellanova Price Performance

Shares of NYSE K traded up $0.14 during trading on Friday, reaching $81.29. The company had a trading volume of 1,054,007 shares, compared to its average volume of 2,040,353. Kellanova has a 52 week low of $51.02 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's 50 day moving average price is $80.82 and its 200-day moving average price is $71.32. The stock has a market cap of $28.02 billion, a PE ratio of 27.93, a PEG ratio of 2.61 and a beta of 0.39.

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, beating analysts' consensus estimates 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 the consensus estimate of $3.16 billion. During the same period in the prior year, the company posted $1.03 EPS. The company's revenue was down .7% compared to the same quarter last year. Analysts expect that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.80%. Kellanova's dividend payout ratio is 78.35%.

Kellanova Company 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.