SPC Financial Inc. Sells 6,639 Shares of Kellanova (NYSE:K)

SPC Financial Inc. reduced its position in shares of Kellanova (NYSE:K - Free Report) by 70.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,816 shares of the company's stock after selling 6,639 shares during the period. SPC Financial Inc.'s holdings in Kellanova were worth $227,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in K. Blue Trust Inc. raised its position in Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company's stock valued at $27,000 after purchasing an additional 170 shares during the last quarter. Family Firm Inc. bought a new position in Kellanova during the second quarter valued at approximately $29,000. CVA Family Office LLC lifted its holdings in shares of Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company's stock valued at $29,000 after buying an additional 307 shares during the period. BNP Paribas purchased a new position in Kellanova in the first quarter worth about $30,000. Finally, Newbridge Financial Services Group Inc. increased its position in shares of Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company's stock valued at $30,000 after purchasing an additional 200 shares during the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

K has been the topic of several research analyst reports. BNP Paribas upgraded shares of Kellanova from a "neutral" rating to an "outperform" rating and set a $74.00 price target on the stock in a research note on Monday, August 5th. Stifel Nicolaus boosted their price target 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. JPMorgan Chase & Co. upped their price target on shares of Kellanova from $66.00 to $69.00 and gave the company a "neutral" rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted their price target on Kellanova from $76.00 to $83.50 and gave the stock an "equal weight" rating in a research report on Thursday, August 15th. Finally, Argus lowered Kellanova from a "buy" rating to a "hold" rating in a research note on Wednesday, October 2nd. Fifteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $74.32.

Kellanova Price Performance

Kellanova stock traded up $0.03 during midday trading on Friday, reaching $81.05. 1,642,497 shares of the company were exchanged, compared to its average volume of 3,127,027. The company has a market capitalization of $27.71 billion, a price-to-earnings ratio of 30.36, a P/E/G ratio of 2.59 and a beta of 0.39. The firm's 50-day simple moving average is $80.19 and its 200-day simple moving average is $66.52. Kellanova has a 1 year low of $49.28 and a 1 year high of $81.21. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. The company had revenue of $3.19 billion during the quarter, compared to analysts' expectations of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The firm's revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 EPS. On average, analysts anticipate that Kellanova will post 3.7 EPS for the current year.

Kellanova Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.81%. This is a positive change from Kellanova's previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, September 3rd. Kellanova's dividend payout ratio is presently 85.39%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company's stock in a transaction on Monday, July 29th. The stock was sold at an average price of $57.23, for a total value of $4,452,494.00. Following the completion of the sale, the insider now owns 50,908,638 shares in the company, valued at $2,913,501,352.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm's stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $57.23, for a total transaction of $4,452,494.00. Following the completion of the sale, the insider now directly owns 50,908,638 shares in the company, valued at approximately $2,913,501,352.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm'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 of the company's stock, valued at $4,062,201,136.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,154,298 shares of company stock worth $88,847,101. 1.80% of the stock is currently owned by 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.