Kellanova (NYSE:K) Shares Sold by Stifel Financial Corp

Stifel Financial Corp decreased its holdings in Kellanova (NYSE:K - Free Report) by 15.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,769 shares of the company's stock after selling 9,180 shares during the period. Stifel Financial Corp's holdings in Kellanova were worth $4,097,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Blue Trust Inc. lifted its stake in Kellanova by 57.2% in the 2nd 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. Raymond James & Associates grew its holdings in Kellanova by 2.6% during the 2nd quarter. Raymond James & Associates now owns 548,154 shares of the company's stock valued at $31,618,000 after buying an additional 13,793 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in Kellanova by 27.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 19,578 shares of the company's stock worth $1,129,000 after acquiring an additional 4,232 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Kellanova by 18.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 38,964 shares of the company's stock worth $2,247,000 after acquiring an additional 5,962 shares in the last quarter. Finally, Continuum Advisory LLC boosted its position in shares of Kellanova by 375.0% during the 2nd quarter. Continuum Advisory LLC now owns 1,026 shares of the company's stock valued at $59,000 after acquiring an additional 810 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on K shares. Argus downgraded shares of Kellanova from a "buy" rating to a "hold" rating in a report on Wednesday, October 2nd. StockNews.com began coverage on Kellanova in a research note on Saturday. They issued a "hold" rating for the company. BNP Paribas downgraded 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. Finally, DA Davidson downgraded Kellanova from a "buy" rating to a "neutral" rating and raised their price target for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $76.35.

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 Friday, November 29th. The shares were sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the completion of the transaction, the insider now directly owns 49,222,442 shares in the company, valued at approximately $3,997,354,514.82. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 1,031,247 shares of company stock worth $83,327,049 in the last three months. Company insiders own 1.80% of the company's stock.

Kellanova Stock Performance

NYSE:K traded up $0.09 during trading hours on Monday, hitting $80.65. 1,907,056 shares of the company were exchanged, compared to its average volume of 2,935,472. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. Kellanova has a 52-week low of $52.46 and a 52-week high of $81.34. The stock has a market capitalization of $27.80 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 2.59 and a beta of 0.38. The company's 50 day moving average price is $80.82 and its 200-day moving average price is $72.74.

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

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Monday, December 2nd. Kellanova's dividend payout ratio (DPR) is 78.35%.

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.