Canandaigua National Bank & Trust Co. Has $715,000 Holdings in Kellanova (NYSE:K)

Canandaigua National Bank & Trust Co. lessened its stake in Kellanova (NYSE:K) by 6.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,853 shares of the company’s stock after selling 652 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Kellanova were worth $715,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in K. Stifel Financial Corp increased its stake in Kellanova by 101.6% in the 4th quarter. Stifel Financial Corp now owns 131,173 shares of the company’s stock valued at $7,334,000 after buying an additional 66,103 shares during the period. KBC Group NV increased its stake in shares of Kellanova by 92.4% during the 4th quarter. KBC Group NV now owns 55,818 shares of the company’s stock worth $3,121,000 after purchasing an additional 26,809 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Kellanova by 208.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 30,855 shares of the company’s stock worth $1,725,000 after purchasing an additional 20,840 shares during the last quarter. Cetera Advisor Networks LLC increased its stake in shares of Kellanova by 3.3% during the 4th quarter. Cetera Advisor Networks LLC now owns 72,299 shares of the company’s stock worth $4,042,000 after purchasing an additional 2,318 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its stake in shares of Kellanova by 205.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 28,234 shares of the company’s stock worth $1,579,000 after purchasing an additional 18,988 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a research note on Friday, August 2nd. The Goldman Sachs Group assumed coverage on shares of Kellanova in a report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. Fifteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $74.32.

Kellanova Price Performance

Shares of NYSE:K traded down $0.02 during midday trading on Friday, reaching $80.61. 1,198,123 shares of the company’s stock were exchanged, compared to its average volume of 3,214,510. The company’s 50 day simple moving average is $77.02 and its two-hundred day simple moving average is $64.80. The firm has a market capitalization of $27.56 billion, a PE ratio of 30.19, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. Kellanova has a 12 month low of $47.63 and a 12 month high of $81.00. 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 (NYSE:K) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the firm earned $1.25 EPS. Equities research analysts expect that Kellanova will post 3.7 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.57 per share. This is an increase 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%.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $56.14, for a total value of $4,367,692.00. Following the completion of the transaction, the insider now directly owns 51,142,038 shares of the company’s stock, valued at approximately $2,871,114,013.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $56.14, for a total transaction of $4,367,692.00. Following the completion of the sale, the insider now directly owns 51,142,038 shares of the company’s stock, valued at $2,871,114,013.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the sale, the insider now directly owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,080,732 shares of company stock valued at $79,115,595 in the last ninety days. Insiders own 1.80% of the company’s stock.

About Kellanova

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.