Allworth Financial LP Has $1.45 Million Position in Kellanova (NYSE:K)

Allworth Financial LP reduced its position in shares of Kellanova (NYSE:K) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,974 shares of the company’s stock after selling 161 shares during the quarter. Allworth Financial LP’s holdings in Kellanova were worth $1,451,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. CVA Family Office LLC increased its stake in shares of Kellanova by 529.3% in 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. Blue Trust Inc. increased its stake in shares of Kellanova by 57.2% in 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. acquired a new position in shares of Kellanova in the second quarter worth $29,000. BNP Paribas acquired a new position in shares of Kellanova in the first quarter worth $30,000. Finally, Newbridge Financial Services Group Inc. increased its stake in shares of Kellanova by 61.9% in 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 owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $74.01, for a total transaction of $5,757,978.00. Following the completion of the transaction, the insider now owns 50,830,838 shares in the company, valued at $3,761,990,320.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 21st. The shares were sold at an average price of $80.96, for a total value of $9,276,639.68. Following the completion of the transaction, the insider now owns 49,795,357 shares in the company, valued at approximately $4,031,432,102.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $74.01, for a total transaction of $5,757,978.00. Following the completion of the transaction, the insider now owns 50,830,838 shares of the company’s stock, valued at $3,761,990,320.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,227,864 shares of company stock worth $98,438,243 over the last quarter. Company insiders own 1.80% of the company’s stock.

Kellanova Stock Down 0.3 %

NYSE K opened at $80.60 on Tuesday. 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 50-day simple moving average of $80.62 and a 200 day simple moving average of $67.65. Kellanova has a twelve month low of $49.79 and a twelve month high of $81.26. The stock has a market cap of $27.56 billion, a PE ratio of 30.19, a PEG ratio of 2.60 and a beta of 0.39.

Kellanova (NYSE:K) last released its earnings results on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.11. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The firm’s revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the company earned $1.25 earnings per share. On average, research analysts forecast that Kellanova will post 3.7 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. Kellanova’s dividend payout ratio is 85.39%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on K shares. Piper Sandler upped their price target on shares of Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and increased their target price for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. StockNews.com initiated coverage on shares of Kellanova in a research report on Sunday. They set a “hold” rating on the stock. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group initiated coverage on shares of Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 target price on the stock. Fifteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently 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.