Kellanova (NYSE:K) Short Interest Update

Kellanova (NYSE:K) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 6,820,000 shares, a growth of 28.0% from the December 15th total of 5,330,000 shares. Based on an average trading volume of 1,890,000 shares, the short-interest ratio is currently 3.6 days. Currently, 2.3% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on K. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. StockNews.com started coverage on Kellanova in a research note on Wednesday. They set a “hold” rating for the company. Finally, BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research note on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $76.35.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the completion of the sale, the insider now owns 49,680,774 shares of the company’s stock, valued at approximately $4,012,219,308.24. This represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 1,031,247 shares of company stock valued at $83,509,236 over the last ninety days. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of K. Investors Research Corp lifted its holdings in shares of Kellanova by 1.0% during the third quarter. Investors Research Corp now owns 12,991 shares of the company’s stock worth $1,049,000 after purchasing an additional 125 shares during the period. Assetmark Inc. lifted its stake in shares of Kellanova by 26.2% in the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after acquiring an additional 131 shares during the period. MCF Advisors LLC increased its stake in shares of Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after acquiring an additional 137 shares during the period. S.A. Mason LLC raised its holdings in Kellanova by 7.6% during the third quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock worth $160,000 after purchasing an additional 140 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its holdings in Kellanova by 1.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock valued at $690,000 after purchasing an additional 145 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Stock Up 0.2 %

Shares of NYSE:K traded up $0.17 on Friday, hitting $81.73. 2,647,218 shares of the company’s stock were exchanged, compared to its average volume of 1,723,373. Kellanova has a 1-year low of $52.46 and a 1-year high of $81.79. The company has a market capitalization of $28.17 billion, a PE ratio of 28.09, a P/E/G ratio of 2.49 and a beta of 0.37. 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’s 50-day moving average is $80.95 and its 200 day moving average is $76.41.

Kellanova (NYSE:K) last issued its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the prior year, the business posted $1.03 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. Sell-side analysts predict that Kellanova will post 3.75 EPS for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a $0.57 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.79%. Kellanova’s dividend payout ratio (DPR) is 78.35%.

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.