Vinva Investment Management Ltd Has $914,000 Position in Kellanova (NYSE:K)

Vinva Investment Management Ltd decreased its position in shares of Kellanova (NYSE:K - Free Report) by 65.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,309 shares of the company's stock after selling 21,295 shares during the quarter. Vinva Investment Management Ltd's holdings in Kellanova were worth $914,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. CVA Family Office LLC boosted 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 worth $29,000 after purchasing an additional 307 shares during the period. MCF Advisors LLC grew its position 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 acquiring an additional 137 shares in the last quarter. Blue Trust Inc. increased its stake in Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company's stock worth $27,000 after purchasing an additional 170 shares during the period. Family Firm Inc. acquired a new stake in shares of Kellanova during the second quarter worth about $29,000. Finally, Newbridge Financial Services Group Inc. boosted its stake in shares of Kellanova by 61.9% in the second 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 period. Hedge funds and other institutional investors own 83.87% of the company's stock.

Kellanova Price Performance

Shares of K stock traded up $0.14 during mid-day trading on Friday, reaching $81.29. The company's stock had a trading volume of 1,054,007 shares, compared to its average volume of 2,993,080. The company has a market cap of $28.02 billion, a P/E ratio of 27.94, a PEG ratio of 2.61 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. Kellanova has a 1-year low of $51.02 and a 1-year high of $81.34. The firm's 50-day moving average is $80.82 and its two-hundred day moving average is $71.26.

Kellanova (NYSE:K - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm's revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 EPS. On average, research analysts predict 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 will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.80%. Kellanova's payout ratio is currently 78.35%.

Insiders Place Their Bets

In other Kellanova news, 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 transaction of $9,241,118.95. Following the transaction, the insider now 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 1,145,830 shares of company stock valued at $92,516,606. 1.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Argus lowered shares of Kellanova from a "buy" rating to a "hold" rating in a report on Wednesday, October 2nd. Royal Bank of Canada lowered Kellanova from an "outperform" rating to a "sector perform" rating and lifted their target price for the company from $76.00 to $83.50 in a report on Thursday, August 15th. DA Davidson downgraded Kellanova from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. BNP Paribas downgraded shares of Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price objective on the stock. in a research report on Friday, November 1st. Finally, Piper Sandler raised their price target on Kellanova from $63.00 to $83.50 and gave the company a "neutral" rating in a research note on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target 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.