Northwest & Ethical Investments L.P. trimmed its holdings in shares of Kellanova (NYSE:K - Free Report) by 20.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,399 shares of the company's stock after selling 13,185 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Kellanova were worth $4,148,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. increased its stake in shares of Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company's stock valued at $27,000 after buying an additional 170 shares during the period. Family Firm Inc. acquired a new stake in shares of Kellanova during the second quarter worth $29,000. CVA Family Office LLC grew its stake in shares of Kellanova by 529.3% during 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. grew its stake 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 grew its stake in shares of Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company's stock worth $34,000 after purchasing an additional 137 shares during the period. 83.87% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Kellanova
In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the completion of the sale, the insider now directly owns 50,368,272 shares in the company, valued at $4,062,201,136.80. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 1,145,830 shares of company stock worth $92,516,606. Company insiders own 1.80% of the company's stock.
Analyst Ratings Changes
Several research analysts have weighed in on K shares. JPMorgan Chase & Co. lifted 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. Royal Bank of Canada lowered Kellanova from an "outperform" rating to a "sector perform" rating and lifted their target price for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. The Goldman Sachs Group initiated coverage on Kellanova in a report on Monday, August 12th. They set a "neutral" rating and a $75.00 target price on the stock. Piper Sandler boosted their price target on Kellanova from $63.00 to $83.50 and gave the company a "neutral" rating in a report on Thursday, August 15th. Finally, Barclays boosted their price target on Kellanova from $67.00 to $83.00 and gave the company an "equal weight" rating in a report on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $76.35.
Check Out Our Latest Report on K
Kellanova Stock Performance
Shares of Kellanova stock traded up $0.15 on Friday, hitting $81.30. The stock had a trading volume of 1,054,007 shares, compared to its average volume of 2,993,080. Kellanova has a twelve month low of $51.02 and a twelve month high of $81.34. The business's 50 day moving average is $80.82 and its two-hundred day moving average is $71.26. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock has a market cap of $28.02 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39.
Kellanova (NYSE:K - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.03 earnings per share. Analysts forecast that Kellanova will post 3.74 EPS for the current year.
Kellanova Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Monday, December 2nd. Kellanova's dividend payout ratio (DPR) is currently 78.35%.
About Kellanova
(
Free Report)
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.
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