Mizuho Securities USA LLC Increases Position in Kellanova (NYSE:K)

Mizuho Securities USA LLC grew its position in Kellanova (NYSE:K - Free Report) by 511.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 124,188 shares of the company's stock after purchasing an additional 103,892 shares during the period. Mizuho Securities USA LLC's holdings in Kellanova were worth $10,023,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Blue Trust Inc. raised its position in Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company's stock worth $27,000 after acquiring an additional 170 shares in the last quarter. Family Firm Inc. bought a new stake in Kellanova in the 2nd quarter valued at $29,000. CVA Family Office LLC boosted its position in shares of 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. increased its holdings in shares of Kellanova by 61.9% during 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 during the period. Finally, MCF Advisors LLC raised its holdings in Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company's stock valued at $34,000 after acquiring an additional 137 shares in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the transaction, the insider now directly owns 50,482,855 shares of the company's stock, valued at $4,051,249,113.75. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 1,072,264 shares of company stock worth $86,452,375. 1.80% of the stock is currently owned by company insiders.

Kellanova Stock Performance

Kellanova stock traded down $0.28 during mid-day trading on Friday, reaching $80.57. 3,846,286 shares of the company traded hands, compared to its average volume of 2,054,145. The company has a market capitalization of $27.77 billion, a price-to-earnings ratio of 27.69, a price-to-earnings-growth 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. The firm's fifty day moving average is $80.71 and its two-hundred day moving average is $69.90. Kellanova has a fifty-two week low of $51.02 and a fifty-two week high of $81.34.

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

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 2.83%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova's payout ratio is 78.35%.

Analysts Set New Price Targets

K has been the subject of several research analyst reports. Royal Bank of Canada downgraded shares of Kellanova from an "outperform" rating to a "sector perform" rating and upped their price target for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. The Goldman Sachs Group began coverage on Kellanova in a report on Monday, August 12th. They set a "neutral" rating and a $75.00 price target for the company. BNP Paribas lowered 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. Deutsche Bank Aktiengesellschaft boosted their price target on Kellanova from $76.00 to $83.50 and gave the company a "hold" rating in a research note on Thursday, August 15th. Finally, Barclays raised their price target on shares of Kellanova from $67.00 to $83.00 and gave the stock an "equal weight" rating in a report on Thursday, August 15th. 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, Kellanova presently has a consensus rating of "Hold" and a consensus target price of $76.35.

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.