D.A. Davidson & CO. Has $1.62 Million Stock Holdings in Kellanova (NYSE:K)

D.A. Davidson & CO. decreased its stake in shares of Kellanova (NYSE:K - Free Report) by 38.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,108 shares of the company's stock after selling 12,452 shares during the period. D.A. Davidson & CO.'s holdings in Kellanova were worth $1,623,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. lifted its position in shares of Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company's stock worth $27,000 after buying an additional 170 shares during the last quarter. Family Firm Inc. acquired a new position in Kellanova in the second quarter valued at approximately $29,000. CVA Family Office LLC grew its holdings in shares of Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company's stock valued at $29,000 after purchasing an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in shares of Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company's stock worth $30,000 after purchasing an additional 200 shares during the last quarter. Finally, MCF Advisors LLC grew its stake in Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company's stock worth $34,000 after buying an additional 137 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

K has been the subject of several recent analyst reports. Stifel Nicolaus upped their target price on shares of Kellanova from $64.00 to $76.00 and gave the stock a "hold" rating in a research report on Monday, August 12th. BNP Paribas cut Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 target price on the stock. in a research report on Friday, November 1st. Piper Sandler boosted their price target on Kellanova from $63.00 to $83.50 and gave the stock a "neutral" rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their price target on Kellanova from $76.00 to $83.50 and gave the company a "hold" rating in a report on Thursday, August 15th. Finally, DA Davidson downgraded shares of Kellanova from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $80.00 to $83.50 in a report on Monday, August 26th. Fifteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $76.35.

Kellanova Stock Performance

K stock traded up $0.14 during midday trading on Friday, hitting $81.29. 1,054,007 shares of the company traded hands, compared to its average volume of 2,040,353. The business has a 50 day simple moving average of $80.82 and a 200-day simple moving average of $71.39. 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 twelve month low of $51.02 and a twelve month high of $81.34. The stock has a market capitalization of $28.02 billion, a price-to-earnings ratio of 27.93, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. Kellanova's revenue was down .7% compared to the same quarter last year. As a group, equities research analysts predict that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Announces Dividend

The firm 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 dividend of $0.57 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.80%. Kellanova's dividend payout ratio is currently 78.35%.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on 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 completion of 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 represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through 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 currently owned by company insiders.

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.