National Bank of Canada FI Acquires 64,293 Shares of Kellanova (NYSE:K)

National Bank of Canada FI grew its holdings in Kellanova (NYSE:K) by 69.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 157,204 shares of the company’s stock after purchasing an additional 64,293 shares during the period. National Bank of Canada FI’s holdings in Kellanova were worth $12,688,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. CWM LLC boosted its stake in Kellanova by 24.3% in the 2nd quarter. CWM LLC now owns 10,286 shares of the company’s stock worth $593,000 after purchasing an additional 2,010 shares during the period. Sequoia Financial Advisors LLC grew its stake in Kellanova by 8.7% during the second quarter. Sequoia Financial Advisors LLC now owns 10,600 shares of the company’s stock valued at $611,000 after acquiring an additional 849 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in Kellanova by 5.2% during the 2nd quarter. V Square Quantitative Management LLC now owns 7,703 shares of the company’s stock worth $444,000 after acquiring an additional 382 shares during the period. Cornerstone Wealth Management LLC lifted its stake in Kellanova by 2.9% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 17,831 shares of the company’s stock worth $1,029,000 after purchasing an additional 510 shares in the last quarter. Finally, Welch Group LLC bought a new position in Kellanova in the 2nd quarter valued at $278,000. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $80.65, for a total value of $9,241,118.95. Following the completion of the transaction, the insider now directly owns 50,368,272 shares of the company’s stock, valued at $4,062,201,136.80. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 1,145,830 shares of company stock worth $92,568,168 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Kellanova Price Performance

K opened at $80.70 on Wednesday. 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 stock’s 50 day simple moving average is $80.82 and its 200 day simple moving average is $72.18. The firm has a market cap of $27.82 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 2.59 and a beta of 0.38. Kellanova has a 1 year low of $52.46 and a 1 year high of $81.34.

Kellanova (NYSE:K) last issued its 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 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 earnings per share. As a group, analysts predict that Kellanova will post 3.75 earnings per share for the current year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a $0.57 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. Kellanova’s payout ratio is presently 78.35%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on K. StockNews.com began coverage on shares of Kellanova in a report on Friday, December 6th. They issued a “hold” rating on the stock. Barclays lifted 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. Piper Sandler upped their price objective on shares of Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Wells Fargo & Company lifted their target price on shares of Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Finally, DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and increased their price target for the stock from $80.00 to $83.50 in a report on Monday, August 26th. Fifteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $76.35.

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.