Kellanova (NYSE:K) Stock Holdings Lessened by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC lowered its stake in shares of Kellanova (NYSE:K) by 25.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 221,350 shares of the company’s stock after selling 75,334 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Kellanova were worth $17,865,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in K. Vanguard Group Inc. grew its stake in shares of Kellanova by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock worth $1,797,525,000 after purchasing an additional 1,130,582 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Kellanova by 11.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock valued at $150,909,000 after acquiring an additional 277,171 shares during the last quarter. Yacktman Asset Management LP lifted its position in shares of Kellanova by 0.5% during the 2nd quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock valued at $123,546,000 after acquiring an additional 10,510 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in Kellanova by 766.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after purchasing an additional 1,664,461 shares in the last quarter. Finally, Maverick Capital Ltd. purchased a new stake in shares of Kellanova in the 2nd quarter valued at approximately $88,065,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Trading Up 0.0 %

NYSE:K traded up $0.01 during trading hours on Wednesday, hitting $80.57. The stock had a trading volume of 252,292 shares, compared to its average volume of 3,185,963. The business’s 50 day moving average is $77.95 and its 200-day moving average is $65.29. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. The company has a market cap of $27.55 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 2.59 and a beta of 0.39. Kellanova has a one year low of $47.63 and a one year high of $81.00.

Kellanova (NYSE:K) last posted its earnings results on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the company posted $1.25 earnings per share. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. Sell-side analysts anticipate that Kellanova will post 3.7 EPS for the current fiscal year.

Kellanova Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.57 per share. This is an increase from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a yield of 2.83%. The ex-dividend date was Tuesday, September 3rd. Kellanova’s dividend payout ratio (DPR) is 85.39%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $56.19, for a total value of $4,371,582.00. Following the sale, the insider now owns 51,064,238 shares of the company’s stock, valued at $2,869,299,533.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’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 sale, the insider now directly owns 50,368,272 shares of the company’s stock, valued at approximately $4,062,201,136.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $56.19, for a total transaction of $4,371,582.00. Following the transaction, the insider now owns 51,064,238 shares in the company, valued at $2,869,299,533.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,117,515 shares of company stock valued at $83,979,855. 1.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

K has been the topic of several research analyst reports. Wells Fargo & Company lifted their target price on Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. StockNews.com started coverage on shares of Kellanova in a research note on Thursday, October 3rd. They set a “hold” rating for the company. Royal Bank of Canada lowered Kellanova from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus boosted their target price on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Fifteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Kellanova currently has an average rating of “Hold” and an average price target of $74.32.

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.