Kellanova (NYSE:K) Shares Sold by Culbertson A N & Co. Inc.

Culbertson A N & Co. Inc. reduced its stake in shares of Kellanova (NYSE:K) by 12.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,171 shares of the company’s stock after selling 1,445 shares during the quarter. Culbertson A N & Co. Inc.’s holdings in Kellanova were worth $821,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fulton Breakefield Broenniman LLC acquired a new stake in shares of Kellanova during the third quarter worth about $209,000. Swedbank AB grew its stake in Kellanova by 20.5% during the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after buying an additional 46,450 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. acquired a new position in Kellanova during the third quarter worth approximately $219,000. Fruth Investment Management purchased a new stake in Kellanova in the third quarter valued at approximately $240,000. Finally, CVA Family Office LLC boosted its holdings in shares of Kellanova by 529.3% in the third 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 period. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Stock Performance

NYSE K opened at $81.06 on Thursday. The business has a 50 day moving average price of $79.89 and a 200 day moving average price of $66.31. The company has a market capitalization of $27.71 billion, a P/E ratio of 30.36, a PEG ratio of 2.59 and a beta of 0.39. Kellanova has a 1-year low of $49.28 and a 1-year high of $81.21. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The business’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 EPS. Sell-side analysts expect that Kellanova will post 3.7 EPS for the current fiscal year.

Kellanova Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were given a $0.57 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. Kellanova’s dividend payout ratio is currently 85.39%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on K. Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research note on Thursday, August 15th. DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and increased their target price for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. BNP Paribas upgraded Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price target on the stock in a research report on Monday, August 5th. Finally, StockNews.com assumed coverage on Kellanova in a research report on Friday, October 11th. They set a “hold” rating for the company. Fifteen analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $74.32.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $57.23, for a total value of $4,452,494.00. Following the sale, the insider now owns 50,908,638 shares of the company’s stock, valued at approximately $2,913,501,352.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $57.23, for a total transaction of $4,452,494.00. Following the completion of the sale, the insider now owns 50,908,638 shares in the company, valued at approximately $2,913,501,352.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the completion of 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,154,298 shares of company stock valued at $88,847,101 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

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.