Thrivent Financial for Lutherans Boosts Position in Kellanova (NYSE:K)

Thrivent Financial for Lutherans increased its holdings in Kellanova (NYSE:K) by 7.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,682 shares of the company’s stock after acquiring an additional 1,432 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Kellanova were worth $1,750,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in K. Assetmark Inc. boosted its stake in Kellanova by 26.2% during the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after acquiring an additional 131 shares in the last quarter. MCF Advisors LLC boosted its position in shares of Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after purchasing an additional 137 shares in the last quarter. S.A. Mason LLC grew its stake in shares of Kellanova by 7.6% in the 3rd quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock worth $160,000 after buying an additional 140 shares during the last quarter. Capital Advisors Ltd. LLC increased its position in Kellanova by 41.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after buying an additional 158 shares in the last quarter. Finally, Blue Trust Inc. raised 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 buying an additional 170 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $80.25, for a total value of $9,195,285.75. Following the transaction, the insider now directly owns 50,482,855 shares in the company, valued at $4,051,249,113.75. This represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 1,145,830 shares of company stock worth $92,516,606 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Kellanova Stock Up 0.2 %

NYSE K opened at $81.30 on Friday. The stock has a 50 day moving average price of $80.82 and a 200-day moving average price of $71.26. Kellanova has a one year low of $51.02 and a one year 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 company has a market capitalization of $28.02 billion, a P/E ratio of 27.94, a P/E/G ratio of 2.61 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, topping analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the company posted $1.03 EPS. The business’s revenue was down .7% on a year-over-year basis. As a group, equities analysts predict that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.80%. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on K shares. JPMorgan Chase & Co. increased their price objective on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. The Goldman Sachs Group assumed coverage on Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective for the company. DA Davidson cut Kellanova from a “buy” rating to a “neutral” rating and raised their target price for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Evercore ISI upgraded Kellanova to a “hold” rating in a research note on Friday, August 2nd. Finally, Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Fifteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Kellanova presently has a consensus rating of “Hold” and an average price target of $76.35.

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.