Kellanova (NYSE:K) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in Kellanova (NYSE:K - Free Report) by 24.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,574,932 shares of the company's stock after selling 843,240 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.75% of Kellanova worth $207,823,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in Kellanova by 1.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 356,803 shares of the company's stock worth $20,443,000 after acquiring an additional 4,263 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Kellanova by 3.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 9,630 shares of the company's stock worth $573,000 after acquiring an additional 303 shares during the last quarter. Atria Investments Inc acquired a new position in Kellanova during the first quarter worth about $1,003,000. Cetera Investment Advisers boosted its position in Kellanova by 393.2% during the first quarter. Cetera Investment Advisers now owns 117,392 shares of the company's stock worth $6,725,000 after acquiring an additional 93,588 shares during the last quarter. Finally, Cetera Advisors LLC boosted its position in Kellanova by 61.5% during the first quarter. Cetera Advisors LLC now owns 24,530 shares of the company's stock worth $1,405,000 after acquiring an additional 9,338 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

Analyst Upgrades and Downgrades

K has been the topic of several recent analyst reports. DA Davidson lowered shares of Kellanova from a "buy" rating to a "neutral" rating and boosted their target price for the company from $80.00 to $83.50 in a report on Monday, August 26th. Wells Fargo & Company upped their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock an "equal weight" rating in a report on Thursday, August 15th. Piper Sandler upped their price objective on shares of Kellanova from $63.00 to $83.50 and gave the stock a "neutral" rating in a report on Thursday, August 15th. StockNews.com began coverage on shares of Kellanova in a report on Thursday. They issued a "hold" rating on the stock. Finally, Barclays upped their price objective on shares of Kellanova from $67.00 to $83.00 and gave the stock 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 given a buy rating to the company's stock. Based on data from MarketBeat, Kellanova currently has an average rating of "Hold" and an average target price of $76.35.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated 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 trade represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders sold 1,145,830 shares of company stock worth $92,516,606. 1.80% of the stock is owned by corporate insiders.

Kellanova Stock Performance

NYSE:K traded up $0.14 during trading hours on Friday, reaching $81.29. 1,054,007 shares of the company's stock were exchanged, compared to its average volume of 2,040,353. The firm has a market capitalization of $28.02 billion, a price-to-earnings ratio of 27.93, a P/E/G ratio of 2.61 and a beta of 0.39. The company has a 50-day moving average of $80.82 and a 200 day moving average of $71.32. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Kellanova has a 1-year low of $51.02 and a 1-year high of $81.34.

Kellanova (NYSE:K - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company had revenue of $3.23 billion during the quarter, compared to analysts' expectations of $3.16 billion. During the same quarter last year, the business earned $1.03 EPS. The business's revenue was down .7% on a year-over-year basis. Research analysts anticipate 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. Stockholders of record on Monday, December 2nd will be issued a $0.57 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.80%. Kellanova's dividend payout ratio is presently 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.