Kellanova (NYSE:K) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. decreased its holdings in shares of Kellanova (NYSE:K) by 2.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 105,400 shares of the company’s stock after selling 2,300 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Kellanova were worth $8,507,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MCF Advisors LLC raised its holdings in shares of Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after acquiring an additional 137 shares during the last quarter. S.A. Mason LLC increased its position in shares of Kellanova by 7.6% during the third quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock worth $160,000 after purchasing an additional 140 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in Kellanova by 41.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after purchasing an additional 158 shares during the last quarter. Blue Trust Inc. lifted its holdings in Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after purchasing an additional 170 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its stake in Kellanova by 1.9% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 9,810 shares of the company’s stock worth $566,000 after purchasing an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Piper Sandler raised their target price on shares of Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Barclays upped their price target on Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. The Goldman Sachs Group assumed coverage on Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their target price on Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Sixteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $74.96.

Kellanova Stock Performance

NYSE:K opened at $80.86 on Wednesday. Kellanova has a fifty-two week low of $50.81 and a fifty-two week high of $81.26. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The company has a 50 day moving average price of $80.64 and a 200 day moving average price of $68.70. The stock has a market capitalization of $27.87 billion, a P/E ratio of 27.79, a PEG ratio of 2.56 and a beta of 0.39.

Kellanova (NYSE:K) last released its quarterly 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. 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 quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the business posted $1.03 earnings per share. Equities research analysts forecast that Kellanova will post 3.74 EPS for the current year.

Kellanova Announces Dividend

The firm also recently declared 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 is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.82%. Kellanova’s dividend payout ratio is presently 78.35%.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $80.32, for a total value of $6,248,896.00. Following the completion of the transaction, the insider now owns 50,675,238 shares in the company, valued at $4,070,235,116.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the transaction, the insider now owns 50,482,855 shares in the company, valued at $4,051,249,113.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $80.32, for a total transaction of $6,248,896.00. Following the completion of the sale, the insider now directly owns 50,675,238 shares in the company, valued at approximately $4,070,235,116.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,150,064 shares of company stock valued at $92,680,265. 1.80% of the stock is currently owned by company insiders.

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.