Planning Capital Management Corp Has $3.89 Million Stock Position in Kellanova (NYSE:K)

Planning Capital Management Corp lessened its stake in shares of Kellanova (NYSE:K - Free Report) by 19.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,247 shares of the company's stock after selling 11,766 shares during the quarter. Kellanova accounts for 2.6% of Planning Capital Management Corp's investment portfolio, making the stock its 12th biggest position. Planning Capital Management Corp's holdings in Kellanova were worth $3,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in K. Blue Trust Inc. grew its stake in shares of Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company's stock worth $27,000 after purchasing an additional 170 shares in the last quarter. Family Firm Inc. acquired a new position in shares of Kellanova in the 2nd quarter worth approximately $29,000. CVA Family Office LLC lifted its position 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 acquiring an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. grew 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 acquiring an additional 200 shares during the last quarter. Finally, MCF Advisors LLC lifted its position in shares of Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company's stock worth $34,000 after purchasing an additional 137 shares in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. DA Davidson downgraded shares of Kellanova from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. The Goldman Sachs Group started coverage on Kellanova in a report on Monday, August 12th. They set a "neutral" rating and a $75.00 target price on the stock. Bank of America raised Kellanova from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $62.00 to $70.00 in a research report on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on shares of Kellanova from $66.00 to $69.00 and gave the stock a "neutral" rating in a research note on Friday, August 2nd. Finally, Barclays upped their price target 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 analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Kellanova currently has an average rating of "Hold" and an average price target of $76.35.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $80.62, for a total value of $6,272,236.00. Following the completion of the transaction, the insider now owns 50,597,438 shares of the company's stock, valued at approximately $4,079,165,451.56. The trade was a 0.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction 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 sale, the insider now directly owns 50,368,272 shares in the company, valued at approximately $4,062,201,136.80. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $80.62, for a total value of $6,272,236.00. Following the completion of the sale, the insider now directly owns 50,597,438 shares of the company's stock, valued at $4,079,165,451.56. The trade was a 0.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,072,264 shares of company stock worth $86,452,375 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Price Performance

K stock traded down $0.33 during midday trading on Thursday, reaching $80.85. 2,452,674 shares of the stock were exchanged, compared to its average volume of 3,036,637. The company has a fifty day moving average price of $80.69 and a 200 day moving average price of $69.67. 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 current ratio of 0.77 and a quick ratio of 0.53. The stock has a market capitalization of $27.87 billion, a PE ratio of 27.86, a P/E/G ratio of 2.60 and a beta of 0.39.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business's revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 EPS. As a group, analysts expect that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued 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 yield of 2.82%. Kellanova's dividend payout ratio is currently 78.35%.

Kellanova 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.