Quest Partners LLC Sells 24,314 Shares of Kellanova (NYSE:K)

Quest Partners LLC trimmed its stake in shares of Kellanova (NYSE:K - Free Report) by 87.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,595 shares of the company's stock after selling 24,314 shares during the quarter. Quest Partners LLC's holdings in Kellanova were worth $290,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CVA Family Office LLC boosted 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 valued at $29,000 after purchasing an additional 307 shares in the last quarter. 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 buying an additional 137 shares during the last quarter. Blue Trust Inc. boosted its position in Kellanova by 57.2% during 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 period. Family Firm Inc. bought a new stake in Kellanova during the 2nd quarter worth approximately $29,000. Finally, Newbridge Financial Services Group Inc. increased its position in Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company's stock valued at $30,000 after acquiring an additional 200 shares during the period. Institutional investors own 83.87% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $80.99, for a total transaction of $9,280,077.17. Following the completion of the transaction, the insider now owns 49,337,025 shares of the company's stock, valued at approximately $3,995,805,654.75. The trade was 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. Insiders have sold a total of 1,109,047 shares of company stock worth $89,483,556 over the last 90 days. Corporate insiders own 1.80% of the company's stock.

Kellanova Stock Up 0.0 %

Shares of K traded up $0.02 during trading hours on Tuesday, reaching $81.13. 1,123,273 shares of the stock traded hands, compared to its average volume of 3,008,971. Kellanova has a 52 week low of $51.02 and a 52 week high of $81.34. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The stock has a fifty day simple moving average of $80.78 and a 200 day simple moving average of $70.85. The company has a market cap of $27.97 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 2.61 and a beta of 0.39.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the company posted $1.03 earnings per share. The firm's quarterly revenue was down .7% compared to the same quarter last year. On average, equities analysts forecast that Kellanova will post 3.74 EPS for the current year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued 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 2.81%. Kellanova's payout ratio is 78.35%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on K shares. Argus cut Kellanova from a "buy" rating to a "hold" rating in a research note on Wednesday, October 2nd. Barclays boosted their price target on shares of Kellanova from $67.00 to $83.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 15th. Stifel Nicolaus increased their price objective 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. Piper Sandler lifted their target price on shares of Kellanova from $63.00 to $83.50 and gave the stock a "neutral" rating in a research note on Thursday, August 15th. Finally, 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 report on Friday, August 2nd. Fifteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Kellanova has a consensus rating of "Hold" and an average target price of $76.35.

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.