V Square Quantitative Management LLC Sells 446 Shares of Kellanova (NYSE:K)

V Square Quantitative Management LLC lowered its holdings in shares of Kellanova (NYSE:K) by 5.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 7,257 shares of the company’s stock after selling 446 shares during the period. V Square Quantitative Management LLC’s holdings in Kellanova were worth $586,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Swedbank AB increased its position in Kellanova by 20.5% during the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock valued at $22,076,000 after purchasing an additional 46,450 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in Kellanova by 4.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock valued at $14,705,000 after buying an additional 10,676 shares during the period. SG Americas Securities LLC boosted its position in Kellanova by 498.7% during the second quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock valued at $15,049,000 after acquiring an additional 217,320 shares during the last quarter. M&G Plc acquired a new stake in Kellanova during the 1st quarter worth about $9,346,000. Finally, Atria Investments Inc bought a new position in shares of Kellanova in the 1st quarter worth about $1,003,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on K. StockNews.com started coverage on Kellanova in a research note on Saturday. They set a “hold” rating for the company. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and boosted their target price for the company from $80.00 to $83.50 in a research report on Monday, August 26th. Stifel Nicolaus raised their price target on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Fifteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to 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 $81.05 on Friday. The company has a market cap of $27.71 billion, a PE ratio of 30.36, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. Kellanova has a 52 week low of $49.28 and a 52 week high of $81.21. The business has a 50 day moving average price of $80.19 and a 200-day moving average price of $66.58.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share 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 analysts’ expectations of $3.15 billion. During the same period last year, the business earned $1.25 EPS. The business’s revenue was down 4.7% on a year-over-year basis. 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. Investors of record on Tuesday, September 3rd were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s dividend payout ratio (DPR) is 85.39%.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $80.63, for a total transaction of $9,238,827.29. Following the completion of the transaction, the insider now owns 49,909,940 shares of the company’s stock, valued at approximately $4,024,238,462.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the sale, the insider now owns 50,597,438 shares in the company, valued at $4,079,165,451.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $80.63, for a total value of $9,238,827.29. Following the transaction, the insider now directly owns 49,909,940 shares in the company, valued at approximately $4,024,238,462.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,154,298 shares of company stock valued at $88,847,101 over the last three months. Company insiders own 1.80% of the company’s stock.

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.