Kellanova (NYSE:K) Stock Position Decreased by Independent Advisor Alliance

Independent Advisor Alliance lowered its holdings in Kellanova (NYSE:K) by 5.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,184 shares of the company’s stock after selling 346 shares during the period. Independent Advisor Alliance’s holdings in Kellanova were worth $499,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Summit Trail Advisors LLC lifted its stake in Kellanova by 140.8% in the third quarter. Summit Trail Advisors LLC now owns 8,557 shares of the company’s stock valued at $691,000 after buying an additional 5,003 shares during the last quarter. Swedbank AB lifted its position in Kellanova by 20.5% in the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock valued at $22,076,000 after purchasing an additional 46,450 shares during the last quarter. Cerity Partners LLC boosted its stake in Kellanova by 3.5% during the 3rd quarter. Cerity Partners LLC now owns 197,355 shares of the company’s stock valued at $15,928,000 after purchasing an additional 6,685 shares during the period. Biltmore Family Office LLC grew its position in Kellanova by 4.3% in the 3rd quarter. Biltmore Family Office LLC now owns 7,304 shares of the company’s stock worth $590,000 after purchasing an additional 304 shares during the last quarter. Finally, CFS Investment Advisory Services LLC acquired a new stake in shares of Kellanova in the third quarter valued at approximately $203,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on 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. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 1,031,247 shares of company stock valued at $83,211,320. 1.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

K has been the subject of several analyst reports. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research report on Friday, November 1st. Stifel Nicolaus increased their price target on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. lifted their price objective on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and increased their target price for the company from $80.00 to $83.50 in a research report on Monday, August 26th. Finally, Evercore ISI raised shares of Kellanova to a “hold” rating in a research note on Friday, August 2nd. Fifteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Kellanova presently has an average rating of “Hold” and a consensus target price of $76.35.

Kellanova Stock Up 0.0 %

K stock opened at $81.15 on Thursday. The firm has a market cap of $27.97 billion, a PE ratio of 27.89, a P/E/G ratio of 2.61 and a beta of 0.39. Kellanova has a 12 month low of $51.02 and a 12 month high of $81.34. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The firm has a 50 day simple moving average of $80.80 and a 200 day simple moving average of $71.12.

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

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s dividend payout ratio is presently 78.35%.

Kellanova Company 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.