Kellanova (NYSE:K) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its holdings in shares of Kellanova (NYSE:K) by 1.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,466,573 shares of the company’s stock after selling 15,001 shares during the period. JPMorgan Chase & Co.’s holdings in Kellanova were worth $118,367,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. State Street Corp lifted its holdings in Kellanova by 5.2% in the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after purchasing an additional 731,273 shares in the last quarter. Geode Capital Management LLC grew its stake in Kellanova by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock worth $541,052,000 after acquiring an additional 196,564 shares during the period. Dimensional Fund Advisors LP raised its holdings in Kellanova by 11.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock valued at $150,909,000 after acquiring an additional 277,171 shares during the last quarter. Yacktman Asset Management LP lifted its stake in shares of Kellanova by 0.5% during the 2nd quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock worth $123,546,000 after purchasing an additional 10,510 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of Kellanova by 766.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after purchasing an additional 1,664,461 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on K. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a research note on Friday, November 1st. Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, StockNews.com initiated coverage on shares of Kellanova in a report on Monday. They issued a “hold” rating for the company. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Kellanova has a consensus rating of “Hold” and a consensus price target of $76.35.

Kellanova Stock Performance

Shares of K stock opened at $80.97 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The company has a market cap of $27.91 billion, a PE ratio of 27.82, a P/E/G ratio of 2.59 and a beta of 0.38. The company’s fifty day simple moving average is $80.80 and its 200-day simple moving average is $74.69. Kellanova has a 52 week low of $52.46 and a 52 week high of $81.34.

Kellanova (NYSE:K) last released 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. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the company posted $1.03 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. As a group, equities research analysts anticipate that Kellanova will post 3.74 EPS for the current year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.82%. Kellanova’s dividend payout ratio is currently 78.35%.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $80.57, for a total transaction of $9,231,952.31. Following the sale, the insider now directly owns 50,024,523 shares in the company, valued at $4,030,475,818.11. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 1,031,247 shares of company stock worth $83,337,362. 1.80% of the stock is currently owned by company insiders.

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.