PFG Investments LLC Sells 1,544 Shares of Kellanova (NYSE:K)

PFG Investments LLC decreased its stake in shares of Kellanova (NYSE:K) by 25.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,461 shares of the company’s stock after selling 1,544 shares during the quarter. PFG Investments LLC’s holdings in Kellanova were worth $360,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in K. Blue Trust Inc. increased its holdings in Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after buying an additional 170 shares during the period. Family Firm Inc. purchased a new position in shares of Kellanova in the 2nd quarter valued at $29,000. CVA Family Office LLC raised its position in shares of Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after acquiring an additional 307 shares in the last quarter. BNP Paribas purchased a new stake in shares of Kellanova during the 1st quarter worth $30,000. Finally, Newbridge Financial Services Group Inc. boosted its position in Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Trading Down 0.0 %

Shares of Kellanova stock opened at $80.56 on Wednesday. Kellanova has a 1 year low of $49.79 and a 1 year high of $81.26. 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 stock has a market cap of $27.54 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 2.60 and a beta of 0.39. The firm has a fifty day moving average price of $80.62 and a 200 day moving average price of $67.82.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 EPS. Equities research analysts predict that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Monday, December 2nd. Kellanova’s dividend payout ratio is currently 85.39%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total value of $6,227,890.00. Following the sale, the insider now directly owns 50,753,038 shares of the company’s stock, valued at approximately $4,062,780,691.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the transaction, the insider now owns 50,753,038 shares in the company, valued at $4,062,780,691.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the completion of the sale, the insider now directly owns 49,680,774 shares of the company’s stock, valued at approximately $4,012,219,308.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,227,864 shares of company stock valued at $98,438,243. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on K. Deutsche Bank Aktiengesellschaft boosted their price objective 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. StockNews.com initiated coverage on Kellanova in a research note on Sunday. They set a “hold” rating on the stock. Barclays increased their price target on Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Wells Fargo & Company boosted their price target on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Fifteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and an average target price of $74.32.

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.