NBC Securities Inc. Decreases Stake in Kellanova (NYSE:K)

NBC Securities Inc. reduced its position in Kellanova (NYSE:K) by 36.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,457 shares of the company’s stock after selling 2,549 shares during the period. NBC Securities Inc.’s holdings in Kellanova were worth $359,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. increased its stake in Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after acquiring an additional 170 shares during the last quarter. Family Firm Inc. bought a new stake in Kellanova during the second quarter worth approximately $29,000. CVA Family Office LLC increased its stake in 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 acquiring an additional 307 shares during the last quarter. BNP Paribas bought a new stake in Kellanova during the first quarter worth approximately $30,000. Finally, Newbridge Financial Services Group Inc. increased its stake in Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares during the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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, October 14th. The stock was sold at an average price of $80.63, for a total transaction of $9,238,827.29. Following the completion of the sale, the insider now owns 49,909,940 shares in the company, valued at $4,024,238,462.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $57.23, for a total transaction of $4,452,494.00. Following the completion of the sale, the insider now owns 50,908,638 shares in the company, valued at approximately $2,913,501,352.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $80.63, for a total value of $9,238,827.29. Following the sale, the insider now owns 49,909,940 shares of the company’s stock, valued at approximately $4,024,238,462.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,154,298 shares of company stock worth $88,847,101 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Kellanova Stock Up 0.0 %

Shares of NYSE K opened at $81.05 on Friday. 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 firm has a market capitalization of $27.71 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 2.59 and a beta of 0.39. The stock has a 50 day moving average price of $80.19 and a 200 day moving average price of $66.52. Kellanova has a 52-week low of $49.28 and a 52-week high of $81.21.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. Kellanova’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 earnings per share. Sell-side analysts expect that Kellanova will post 3.7 earnings per share for the current 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. The ex-dividend date was Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s dividend payout ratio is currently 85.39%.

Analysts Set New Price Targets

K has been the topic of several analyst reports. Barclays boosted their price objective on Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Wells Fargo & Company boosted their price objective on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. DA Davidson cut Kellanova from a “buy” rating to a “neutral” rating and upped their target price for the company from $80.00 to $83.50 in a research note on Monday, August 26th. BNP Paribas raised Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 target price on the stock in a research note on Monday, August 5th. Finally, Royal Bank of Canada cut Kellanova from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $76.00 to $83.50 in a research note on Thursday, August 15th. Fifteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $74.32.

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.