Kellanova (NYSE:K) Position Decreased by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its holdings in Kellanova (NYSE:K) by 59.3% during the third quarter, Holdings Channel reports. The firm owned 202,325 shares of the company’s stock after selling 294,253 shares during the period. Victory Capital Management Inc.’s holdings in Kellanova were worth $16,330,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake 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 in the last quarter. Family Firm Inc. purchased a new stake in shares of Kellanova in the 2nd quarter valued at approximately $29,000. CVA Family Office LLC boosted its stake in 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 purchasing an additional 307 shares during the period. Newbridge Financial Services Group Inc. grew its position in Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. Finally, MCF Advisors LLC raised 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 during the period. 83.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

K has been the topic of a number of research analyst reports. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a report on Friday, November 1st. Stifel Nicolaus increased their price target on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. StockNews.com started coverage on shares of Kellanova in a research report on Wednesday. They issued a “hold” rating for the company. Finally, Royal Bank of Canada cut shares of Kellanova from an “outperform” rating to a “sector perform” rating and boosted their price target for the company from $76.00 to $83.50 in a report on Thursday, August 15th. Fifteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $76.35.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $4,079,165,451.56. This represents a 0.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last quarter, insiders sold 994,464 shares of company stock worth $80,203,479. 1.80% of the stock is currently owned by company insiders.

Kellanova Stock Down 0.1 %

Shares of Kellanova stock opened at $80.50 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock has a 50 day moving average price of $80.73 and a two-hundred day moving average price of $70.29. The stock has a market capitalization of $27.75 billion, a P/E ratio of 27.66, a PEG ratio of 2.59 and a beta of 0.39. Kellanova has a 12-month low of $51.02 and a 12-month high of $81.34.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 EPS. Equities analysts expect that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Dividend Announcement

The business 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 payout ratio is presently 78.35%.

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.