MCF Advisors LLC Raises Stock Holdings in Kellanova (NYSE:K)

MCF Advisors LLC grew its position in Kellanova (NYSE:K) by 48.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 418 shares of the company’s stock after acquiring an additional 137 shares during the quarter. MCF Advisors LLC’s holdings in Kellanova were worth $34,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of K. Blue Trust Inc. increased its position 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 acquiring an additional 170 shares during the period. Family Firm Inc. acquired a new position in shares of Kellanova in the second quarter valued at approximately $29,000. CVA Family Office LLC raised its stake in shares of Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after purchasing an additional 307 shares during the last quarter. BNP Paribas acquired a new stake in shares of Kellanova during the first quarter worth $30,000. Finally, Newbridge Financial Services Group Inc. grew its position in Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after buying an additional 200 shares during the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 50,482,855 shares in the company, valued at approximately $4,051,249,113.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Kellanova 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 sale, the insider now directly owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total value of $6,272,236.00. Following the transaction, the insider now directly owns 50,597,438 shares in the company, valued at approximately $4,079,165,451.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,191,081 shares of company stock worth $93,637,014. 1.80% of the stock is owned by corporate insiders.

Kellanova Stock Performance

Shares of K opened at $80.88 on Friday. The company has a 50-day moving average of $80.61 and a two-hundred day moving average of $67.41. The stock has a market cap of $27.65 billion, a P/E ratio of 30.29, a PEG ratio of 2.60 and a beta of 0.39. Kellanova has a 12-month low of $49.79 and a 12-month high of $81.26. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 EPS. As a group, research analysts predict that Kellanova will post 3.7 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. Kellanova’s dividend payout ratio is presently 85.39%.

Wall Street Analyst Weigh In

K has been the subject of several recent analyst reports. StockNews.com began coverage on shares of Kellanova in a research note on Sunday. They issued a “hold” rating for the company. Stifel Nicolaus lifted their price objective on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a report on Monday, August 12th. Evercore ISI raised Kellanova to a “hold” rating in a research note on Friday, August 2nd. Royal Bank of Canada downgraded 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 research note on Thursday, August 15th. Finally, BNP Paribas upgraded Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price objective for the company in a research report on Monday, August 5th. Fifteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kellanova has a consensus rating of “Hold” and a consensus price target of $74.32.

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.