Crossmark Global Holdings Inc. Sells 2,328 Shares of Kellanova (NYSE:K)

Crossmark Global Holdings Inc. lowered its stake in shares of Kellanova (NYSE:K) by 8.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,137 shares of the company’s stock after selling 2,328 shares during the period. Crossmark Global Holdings Inc.’s holdings in Kellanova were worth $1,948,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in K. SG Americas Securities LLC raised its stake in shares of Kellanova by 29.9% during the 1st quarter. SG Americas Securities LLC now owns 43,581 shares of the company’s stock worth $2,497,000 after purchasing an additional 10,022 shares in the last quarter. Sei Investments Co. raised its stake in shares of Kellanova by 2.6% during the 1st quarter. Sei Investments Co. now owns 79,195 shares of the company’s stock worth $4,537,000 after purchasing an additional 1,984 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Kellanova by 16.9% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 593,241 shares of the company’s stock worth $33,987,000 after acquiring an additional 85,748 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of Kellanova by 8.3% during the 1st quarter. TD Asset Management Inc now owns 1,350,790 shares of the company’s stock worth $77,387,000 after acquiring an additional 103,517 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Kellanova by 7.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 311,719 shares of the company’s stock worth $17,858,000 after acquiring an additional 20,995 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

K opened at $81.03 on Wednesday. The firm has a market cap of $27.93 billion, a P/E ratio of 27.85, a price-to-earnings-growth ratio of 2.60 and a beta of 0.39. Kellanova has a 52-week low of $51.02 and a 52-week high of $81.34. 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 business’s fifty day moving average is $80.66 and its 200-day moving average is $69.34.

Kellanova (NYSE:K) last released its 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. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. Kellanova’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 EPS. Sell-side analysts expect that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is currently 78.35%.

Analyst Ratings Changes

A number of research firms recently weighed in on K. Royal Bank of Canada lowered Kellanova from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a report on Friday, November 1st. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Wells Fargo & Company boosted their target price on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. boosted their target price on Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $76.35.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the completion of the sale, the insider now directly owns 50,597,438 shares in the company, valued at $4,079,165,451.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $80.65, for a total value of $9,241,118.95. Following the completion of the transaction, the insider now directly owns 50,368,272 shares in the company, valued at approximately $4,062,201,136.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $80.62, for a total value of $6,272,236.00. Following the completion of the transaction, the insider now owns 50,597,438 shares of the company’s stock, valued at $4,079,165,451.56. 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 1,072,264 shares of company stock worth $86,452,375 in the last ninety days. 1.80% of the stock is owned by insiders.

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.