US Bancorp DE Has $4.01 Million Stake in Kellanova (NYSE:K)

US Bancorp DE decreased its position in Kellanova (NYSE:K) by 2.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 49,720 shares of the company’s stock after selling 1,020 shares during the period. US Bancorp DE’s holdings in Kellanova were worth $4,013,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tevis Investment Management bought a new position in shares of Kellanova during the 3rd quarter worth about $231,000. S.A. Mason LLC boosted its position in shares of Kellanova by 7.6% during the 3rd 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. Cove Private Wealth LLC bought a new position in shares of Kellanova during the 3rd quarter worth about $220,000. Fidelis Capital Partners LLC bought a new position in shares of Kellanova during the 3rd quarter worth about $219,000. Finally, Tyche Wealth Partners LLC bought a new position in shares of Kellanova during the 3rd quarter worth about $297,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Trading Down 0.0 %

Shares of K stock opened at $80.60 on Tuesday. The company has a 50 day moving average of $80.63 and a 200-day moving average of $68.53. The company has a quick ratio of 0.48, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Kellanova has a 12-month low of $50.81 and a 12-month high of $81.26. The firm has a market cap of $27.78 billion, a P/E ratio of 27.70, a PEG ratio of 2.58 and a beta of 0.39.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the business posted $1.03 EPS. Kellanova’s quarterly revenue was down .7% compared to the same quarter last year. Sell-side analysts anticipate that Kellanova will post 3.71 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.57 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. Kellanova’s payout ratio is currently 78.35%.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total value of $6,227,890.00. Following the completion of the transaction, the insider now directly owns 50,753,038 shares in the company, valued at approximately $4,062,780,691.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total value of $6,227,890.00. Following the completion of the transaction, the insider now directly owns 50,753,038 shares in the company, valued at approximately $4,062,780,691.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred 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 completion of the transaction, the insider now owns 50,368,272 shares of the company’s stock, valued at $4,062,201,136.80. This represents a 0.00 % decrease in their ownership of the stock. 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 in the last quarter. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on K shares. StockNews.com started coverage on shares of Kellanova in a research report on Monday. They issued a “hold” rating on the stock. Piper Sandler raised their price target on shares of Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Wells Fargo & Company raised their price target on shares of Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their price target 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. Finally, Evercore ISI raised shares of Kellanova to a “hold” rating in a research report on Friday, August 2nd. Sixteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Kellanova has an average rating of “Hold” and a consensus price target of $74.96.

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.