Kellanova (NYSE:K) Position Reduced by Pensionfund Sabic

Pensionfund Sabic reduced its position in shares of Kellanova (NYSE:K) by 38.6% in the third quarter, HoldingsChannel.com reports. The firm owned 13,200 shares of the company’s stock after selling 8,300 shares during the period. Pensionfund Sabic’s holdings in Kellanova were worth $1,065,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC raised its holdings in shares of Kellanova by 20.8% in the 3rd quarter. CWM LLC now owns 12,426 shares of the company’s stock worth $1,003,000 after purchasing an additional 2,140 shares in the last quarter. Atomi Financial Group Inc. acquired a new stake in shares of Kellanova during the 3rd quarter valued at $257,000. Mather Group LLC. boosted its stake in shares of Kellanova by 71.3% during the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after acquiring an additional 256 shares in the last quarter. New England Research & Management Inc. acquired a new position in shares of Kellanova in the 3rd quarter worth $267,000. Finally, GAMMA Investing LLC raised its position in shares of Kellanova by 6.7% during the third quarter. GAMMA Investing LLC now owns 6,077 shares of the company’s stock worth $490,000 after purchasing an additional 379 shares during the period. Institutional investors own 83.87% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on K. JPMorgan Chase & Co. increased their price target on Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Piper Sandler boosted their price target on shares of Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a report on Thursday, August 15th. Stifel Nicolaus upped their price target on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a report on Thursday, August 15th. Fifteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Kellanova currently has an average rating of “Hold” and a consensus target price of $74.32.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $57.67, for a total transaction of $4,486,726.00. Following the sale, the insider now directly owns 50,986,438 shares of the company’s stock, valued at approximately $2,940,387,879.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $57.67, for a total transaction of $4,486,726.00. Following the completion of the transaction, the insider now directly owns 50,986,438 shares in the company, valued at $2,940,387,879.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction 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 114,583 shares of the business’s stock in a transaction on 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 sale, the insider now owns 50,368,272 shares in the company, valued at $4,062,201,136.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,117,515 shares of company stock worth $83,979,855. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Price Performance

Shares of Kellanova stock opened at $80.54 on Friday. The firm has a fifty day moving average price of $78.41 and a two-hundred day moving average price of $65.46. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $81.00. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48. The company has a market cap of $27.76 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39.

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

Kellanova Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.83%. 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. Kellanova’s payout ratio is 86.36%.

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.