Kellanova (NYSE:K) Shares Sold by Venturi Wealth Management LLC

Venturi Wealth Management LLC reduced its holdings in Kellanova (NYSE:K) by 14.8% during the 3rd quarter, Holdings Channel reports. The fund owned 1,263 shares of the company’s stock after selling 220 shares during the quarter. Venturi Wealth Management LLC’s holdings in Kellanova were worth $102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in K. Assetmark Inc. boosted its holdings in shares of Kellanova by 26.2% in the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after acquiring an additional 131 shares in the last quarter. MCF Advisors LLC boosted its stake in Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after purchasing an additional 137 shares in the last quarter. S.A. Mason LLC increased its position in shares of Kellanova by 7.6% during the 3rd quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock valued at $160,000 after purchasing an additional 140 shares during the period. Capital Advisors Ltd. LLC raised its stake in shares of Kellanova by 41.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after buying an additional 158 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Kellanova by 57.2% in 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. Institutional investors own 83.87% of the company’s stock.

Kellanova Trading Down 0.4 %

NYSE:K opened at $80.86 on Friday. The company has a market capitalization of $27.87 billion, a P/E ratio of 27.86, a P/E/G ratio of 2.60 and a beta of 0.39. The stock’s 50 day moving average price is $80.69 and its 200 day moving average price is $69.67. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. Kellanova has a 52 week low of $51.02 and a 52 week high of $81.34.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. Kellanova’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 EPS. On average, research analysts forecast that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Monday, December 2nd. Kellanova’s dividend payout ratio is 78.35%.

Analyst Upgrades and Downgrades

K has been the topic of several research reports. Piper Sandler boosted their price target on shares of Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Royal Bank of Canada lowered shares of Kellanova from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $76.00 to $83.50 in a research note on Thursday, August 15th. Stifel Nicolaus upped their price target on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a report on Monday, August 12th. Barclays lifted their target price on Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Fifteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Kellanova presently has a consensus rating of “Hold” and an average price target of $76.35.

Insider Activity at Kellanova

In other 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 value of $6,272,236.00. Following the sale, the insider now directly owns 50,597,438 shares of the company’s stock, valued at approximately $4,079,165,451.56. This trade represents a 0.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 1,072,264 shares of company stock valued at $86,452,375. Corporate 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.