Kellanova (NYSE:K) Holdings Lowered by Kellogg W K Foundation Trust

Kellogg W K Foundation Trust cut its holdings in shares of Kellanova (NYSE:K) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,139,106 shares of the company’s stock after selling 1,080,732 shares during the quarter. Kellanova accounts for approximately 94.6% of Kellogg W K Foundation Trust’s holdings, making the stock its biggest holding. Kellogg W K Foundation Trust owned approximately 0.15% of Kellanova worth $4,046,727,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Olympiad Research LP purchased a new position in shares of Kellanova in the third quarter worth $2,006,000. Principal Financial Group Inc. boosted its holdings in Kellanova by 6.9% in the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after acquiring an additional 24,067 shares in the last quarter. Graypoint LLC boosted its holdings in Kellanova by 15.8% in the third quarter. Graypoint LLC now owns 10,762 shares of the company’s stock valued at $869,000 after acquiring an additional 1,470 shares in the last quarter. M&G PLC boosted its holdings in Kellanova by 20.7% in the third quarter. M&G PLC now owns 62,841 shares of the company’s stock valued at $5,090,000 after acquiring an additional 10,788 shares in the last quarter. Finally, Greenwood Capital Associates LLC bought a new stake in Kellanova in the third quarter valued at $1,457,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Kellanova Stock Performance

NYSE:K traded up $0.11 during mid-day trading on Thursday, reaching $80.97. The company’s stock had a trading volume of 3,799,951 shares, compared to its average volume of 1,808,147. Kellanova has a 12-month low of $50.81 and a 12-month high of $81.26. The firm’s fifty day moving average price is $80.64 and its two-hundred day moving average price is $68.87. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The stock has a market cap of $27.91 billion, a P/E ratio of 27.82, a PEG ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K) last issued its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. Kellanova’s revenue was down .7% on a year-over-year basis. On average, equities analysts forecast that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

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. This represents a $2.28 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Monday, December 2nd. Kellanova’s payout ratio is currently 78.35%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on K shares. Royal Bank of Canada cut shares of Kellanova from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $76.00 to $83.50 in a report on Thursday, August 15th. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a report on Friday, August 2nd. Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and boosted their target price for the company from $62.00 to $70.00 in a report on Friday, August 2nd. Barclays boosted their target price on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Finally, Wells Fargo & Company boosted their target price on shares of Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Sixteen analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Kellanova has a consensus rating of “Hold” and a consensus target price of $74.96.

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.