Kellanova (NYSE:K) Shares Sold by Rathbones Group PLC

Rathbones Group PLC reduced its position in Kellanova (NYSE:K) by 2.9% in the 2nd quarter, Holdings Channel reports. The fund owned 7,871 shares of the company’s stock after selling 237 shares during the period. Rathbones Group PLC’s holdings in Kellanova were worth $454,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of K. Intech Investment Management LLC increased its stake in shares of Kellanova by 10.1% during the 4th quarter. Intech Investment Management LLC now owns 263,880 shares of the company’s stock valued at $14,754,000 after acquiring an additional 24,124 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in Kellanova by 4.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock worth $14,705,000 after purchasing an additional 10,676 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Kellanova by 498.7% in the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock valued at $15,049,000 after purchasing an additional 217,320 shares during the last quarter. Banque Cantonale Vaudoise grew its stake in shares of Kellanova by 35.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 79,701 shares of the company’s stock valued at $4,566,000 after buying an additional 20,866 shares during the period. Finally, M&G Plc acquired a new stake in shares of Kellanova during the 1st quarter worth $9,346,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions 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 that occurred on Monday, September 16th. The stock was sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the sale, the insider now owns 50,368,272 shares in the company, valued at $4,062,201,136.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $57.64, for a total transaction of $4,484,392.00. Following the completion of the sale, the insider now owns 51,219,838 shares of the company’s stock, valued at approximately $2,952,311,462.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 value 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. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,007,166 shares of company stock valued at $69,596,129. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

K has been the topic of a number of research analyst reports. DA Davidson cut Kellanova from a “buy” rating to a “neutral” rating and lifted their target price for the company from $80.00 to $83.50 in a report on Monday, August 26th. Piper Sandler increased their target price on shares of Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Wells Fargo & Company lifted 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. JPMorgan Chase & Co. increased their price objective on shares of Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus upped their price target on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Fourteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Kellanova currently has a consensus rating of “Hold” and an average target price of $74.32.

Kellanova Stock Down 0.0 %

Shares of NYSE K opened at $80.64 on Wednesday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. Kellanova has a 1 year low of $47.63 and a 1 year high of $80.97. The stock’s 50-day simple moving average is $70.94 and its 200-day simple moving average is $62.50. The firm has a market cap of $27.57 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 2.57 and a beta of 0.39.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the business earned $1.25 EPS. Kellanova’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, equities analysts anticipate that Kellanova will post 3.7 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.57 per share. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Tuesday, September 3rd. Kellanova’s dividend payout ratio (DPR) is currently 85.39%.

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.