First Trust Direct Indexing L.P. Has $679,000 Stake in Kellanova (NYSE:K)

First Trust Direct Indexing L.P. decreased its holdings in shares of Kellanova (NYSE:K) by 16.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,417 shares of the company’s stock after selling 1,621 shares during the period. First Trust Direct Indexing L.P.’s holdings in Kellanova were worth $679,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Swedbank AB lifted its stake in Kellanova by 20.5% in the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock valued at $22,076,000 after acquiring an additional 46,450 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake 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 acquiring an additional 10,676 shares during the last quarter. SG Americas Securities LLC lifted its stake in Kellanova by 498.7% in 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 in the first quarter valued at $9,346,000. Finally, Atria Investments Inc bought a new position in shares of Kellanova in the first quarter valued at about $1,003,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Price Performance

K stock opened at $80.61 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Kellanova has a 12 month low of $50.81 and a 12 month high of $81.26. The firm has a market cap of $27.78 billion, a P/E ratio of 27.70, a P/E/G ratio of 2.58 and a beta of 0.39. The company’s 50-day moving average price is $80.63 and its two-hundred day moving average price is $68.27.

Kellanova (NYSE:K) last released its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the firm earned $1.03 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. On average, analysts anticipate that Kellanova will post 3.71 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.83%. Kellanova’s payout ratio is currently 78.35%.

Insider Activity

In other 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 shares were 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 in the company, valued at approximately $4,062,780,691.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, 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 transaction of $9,241,118.95. Following the sale, the insider now directly owns 50,368,272 shares in the company, valued at $4,062,201,136.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova 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 sale, the insider now owns 50,753,038 shares in the company, valued at approximately $4,062,780,691.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,227,864 shares of company stock worth $98,438,243. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Evercore ISI raised shares of Kellanova to a “hold” rating in a research report on Friday, August 2nd. Barclays increased their price objective on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Piper Sandler increased their price objective on shares of Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Wells Fargo & Company increased their price objective 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. Finally, Royal Bank of Canada lowered shares of Kellanova from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. Sixteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $74.96.

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.