Kellanova (NYSE:K) Stock Holdings Reduced by Moors & Cabot Inc.

Moors & Cabot Inc. cut its position in shares of Kellanova (NYSE:K) by 4.4% in the second quarter, Holdings Channel reports. The firm owned 8,581 shares of the company’s stock after selling 396 shares during the period. Moors & Cabot Inc.’s holdings in Kellanova were worth $495,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Blue Trust Inc. boosted its holdings in Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares in the last quarter. IFG Advisory LLC increased its holdings in shares of Kellanova by 1.4% during the 2nd quarter. IFG Advisory LLC now owns 13,825 shares of the company’s stock valued at $797,000 after acquiring an additional 189 shares during the last quarter. Eukles Asset Management raised its stake in shares of Kellanova by 0.7% in the 2nd quarter. Eukles Asset Management now owns 26,378 shares of the company’s stock valued at $1,521,000 after acquiring an additional 193 shares in the last quarter. Financial Advisors Network Inc. lifted its holdings in Kellanova by 4.2% in the 4th quarter. Financial Advisors Network Inc. now owns 5,040 shares of the company’s stock worth $282,000 after purchasing an additional 204 shares during the last quarter. Finally, Czech National Bank boosted its position in Kellanova by 0.5% during the first quarter. Czech National Bank now owns 46,405 shares of the company’s stock worth $2,659,000 after purchasing an additional 213 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 51,219,838 shares of the company’s stock, valued at $2,952,311,462.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on 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 in the company, valued at approximately $2,952,311,462.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the sale, the insider now owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 929,366 shares of company stock worth $65,106,291. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

K has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Royal Bank of Canada lowered shares of 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 research report on Thursday, August 15th. Evercore ISI upgraded Kellanova to a “hold” rating in a research note on Friday, August 2nd. DA Davidson cut Kellanova from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Finally, Stifel Nicolaus raised their target price on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a report on Monday, August 12th. Fourteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kellanova currently has a consensus rating of “Hold” and an average price target of $74.32.

Kellanova Stock Performance

Shares of Kellanova stock opened at $80.65 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48. The company’s fifty day moving average price is $71.90 and its two-hundred day moving average price is $62.80. Kellanova has a 52-week low of $47.63 and a 52-week high of $80.97. The firm has a market capitalization of $27.57 billion, a PE ratio of 30.21, a price-to-earnings-growth ratio of 2.57 and a beta of 0.39.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating 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 business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the firm earned $1.25 EPS. Kellanova’s quarterly revenue was down 4.7% on a year-over-year basis. On average, analysts expect that Kellanova will post 3.7 EPS for the current year.

Kellanova Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were given a dividend of $0.57 per share. The ex-dividend date was Tuesday, September 3rd. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. Kellanova’s dividend payout ratio is 85.39%.

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.