Forum Financial Management LP Buys Shares of 3,262 Kellanova (NYSE:K)

Forum Financial Management LP purchased a new position in shares of Kellanova (NYSE:K) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,262 shares of the company’s stock, valued at approximately $263,000.

Several other institutional investors have also modified their holdings of the business. Swedbank AB boosted its stake in Kellanova by 20.5% in the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after purchasing an additional 46,450 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in Kellanova by 4.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock valued at $14,705,000 after acquiring an additional 10,676 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Kellanova by 498.7% during the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock worth $15,049,000 after acquiring an additional 217,320 shares in the last quarter. M&G Plc bought a new position in shares of Kellanova during the 1st quarter worth approximately $9,346,000. Finally, Atria Investments Inc bought a new stake in shares of Kellanova in the first quarter worth $1,003,000. Institutional investors own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research report on Thursday, August 15th. Royal Bank of Canada downgraded Kellanova from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. Wells Fargo & Company increased their price target on Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Piper Sandler boosted their price target on Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, DA Davidson cut shares of Kellanova from a “buy” rating to a “neutral” rating and raised their target price for the company from $80.00 to $83.50 in a research note on Monday, August 26th. Sixteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Kellanova has a consensus rating of “Hold” and a consensus target price of $74.96.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $80.76, for a total value of $9,253,723.08. Following the completion of the sale, the insider now directly owns 49,680,774 shares in the company, valued at approximately $4,012,219,308.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the completion of the sale, the insider now owns 50,597,438 shares of the company’s stock, valued at $4,079,165,451.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the sale, the insider now owns 49,680,774 shares in the company, valued at $4,012,219,308.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,150,064 shares of company stock valued at $92,680,265. 1.80% of the stock is owned by company insiders.

Kellanova Stock Up 0.3 %

Shares of K opened at $80.86 on Wednesday. The firm’s 50-day simple moving average is $80.64 and its 200 day simple moving average is $68.70. 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 firm has a market cap of $27.87 billion, a P/E ratio of 27.79, a price-to-earnings-growth ratio of 2.56 and a beta of 0.39. Kellanova has a 52 week low of $50.81 and a 52 week high of $81.26.

Kellanova (NYSE:K) last announced 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 company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the company earned $1.03 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. On average, analysts forecast that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Announces Dividend

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

Kellanova 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.