Natixis Advisors LLC Sells 19,836 Shares of Kellanova (NYSE:K)

Natixis Advisors LLC reduced its stake in Kellanova (NYSE:K) by 26.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 54,210 shares of the company’s stock after selling 19,836 shares during the quarter. Natixis Advisors LLC’s holdings in Kellanova were worth $4,375,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Blue Trust Inc. grew its stake in Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after acquiring an additional 170 shares in the last quarter. Family Firm Inc. purchased a new position in shares of Kellanova during the second quarter valued at about $29,000. CVA Family Office LLC increased its holdings 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 purchasing an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its position 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 buying an additional 200 shares in the last quarter. Finally, MCF Advisors LLC boosted its stake in Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after buying an additional 137 shares during the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the transaction, the insider now directly owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 1,109,047 shares of company stock valued at $89,483,556 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Kellanova Price Performance

NYSE:K opened at $81.17 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Kellanova has a 52 week low of $51.02 and a 52 week high of $81.34. The stock’s 50-day moving average price is $80.77 and its 200-day moving average price is $70.65. The stock has a market capitalization of $27.98 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 2.60 and a beta of 0.39.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating 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% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. As a group, equities analysts expect that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s dividend payout ratio is presently 78.35%.

Analyst Ratings Changes

A number of equities analysts have commented on K shares. JPMorgan Chase & Co. lifted their price objective on shares of Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. 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. The Goldman Sachs Group initiated coverage on Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, Wells Fargo & Company increased their price target on Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Fifteen equities 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 a consensus rating of “Hold” and a consensus target price of $76.35.

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.